Deutsche Bank Buy Rating Is Reiterated

According to Deutsche Bank, SBA Communications SBAC Buy rating is reiterated. Deutsche Bank said that SBAC reported solid 1Q11 results, at the high end of guidance on most key metrics. “The beat was notable as SBAC ended the quarter with fewer towers than we expected, implying the upside was due to stronger-than-expected demand. In our view, there was some disappointment that SBAC 'merely' reiterated 2011 guidance. However, we believe this simply reflects a pause in M&A following the AT&T/T-Mobile deal. Otherwise, SBAC's outlook appears intact on strong demand. With industry leading FCF/share growth of 20%+, we reiterate BUY on SBAC.” SBA Communications closed yesterday at $38.63.