SBA Communications stock price target raised to $280 from $270 at JMP

Investing.com - JMP Securities raised its price target on SBA Communications (NASDAQ:SBAC), a prominent player in the Specialized REITs industry with a market capitalization of $24.76 billion, to $280 from $270 on Tuesday, while maintaining a Market Outperform rating on the wireless tower company’s shares.

The price target increase represents approximately 21x 2026 estimated AFFO (Adjusted Funds From Operations), up from the previous target which was based on 20x AFFO. According to InvestingPro data, the company currently trades at a P/E ratio of 30.4x, which appears attractive relative to its near-term earnings growth potential.

JMP cited better-than-expected outlook for the remainder of the year and sustained high levels of leasing activity as key factors supporting continued revenue and AFFO growth into 2026.

The firm believes increases in mobile data traffic and fixed wireless services will require carriers to increasingly densify their networks, resulting in higher tower leasing activity for companies like SBA Communications.

JMP expects SBA (LON:SBA) will continue to deliver mid-single-digit organic revenue growth and noted the stock currently trades at approximately 17x 2026 estimated AFFO, which the firm considers attractive for purchase.

In other recent news, SBA Communications Corp reported its Q2 2025 earnings, showing a mixed performance. The company experienced a slight miss in earnings per share (EPS), posting $2.09 compared to the anticipated $2.11, which represents a negative surprise of 0.95%. However, SBA Communications exceeded expectations in revenue, reporting $698.98 million against the forecasted $670.33 million, marking a 4.27% beat. These results highlight the company’s ability to generate higher-than-expected revenue despite the minor EPS shortfall. While the earnings report was mixed, the revenue performance is likely to be a focal point for investors. No analyst upgrades or downgrades were mentioned in the recent developments. Investors may look to future earnings reports for further insights into the company’s performance.

This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.