Citigroup Maintains Neutral, $42 PT on SBA Communications

Citigroup reiterates its Neutral rating and $42 target price on SBA Communications SBAC ahead of Thursday's release of the company's Q4 numbers. Citigroup says, "We maintain our Neutral rating on SBAC, as we believe fundamentals continue to benefit from a favorable backdrop for site colocation, given carriers continue to expand coverage, deepen capacity, and upgrade to faster mobile broadband services using 3G/4G technologies. We believe SBAC will retain an aggressive posture to either grow through acquisition or to repatriate cash flow to shareholders that would likely be in the form of additional share repurchases over time." SBAC closed at $46.27 a share on Friday.