Bank of America Provides Color on SBA Communications

Bank of America provided color on SBA Communications SBAC. In a research report published today, the rating agency commented on the company's Q2 results, which are due to be published on Tuesday, August 2. In the report, Bank of America states, “We expect SBA to update ‘11 guidance covering revenue, adj. EBITDA and capex. Our '11 site leasing revenue estimate is $608m, at the high end of $599-609m guidance and our EBITDA is $443m, again at the high end of $430-447m guidance. Our model assumes 8.9% growth in towers Y/Y, consistent with SBAC's long-term goal of 5-10% annual tower portfolio growth but above the company's current outlook reflecting 8.1% growth.” At the moment, the rating agency has a Buy rating and a price target of $49 placed on the company's stock. On Friday, SBAC added 0.24% to its value to finish the day at $38.17.