- SBA Communications (NASDAQ:SBAC) is 1.6% higher premarket following an upgrade to Overweight at Morgan Stanley, from Equal Weight.
- That's part of a more positive view on communications infrastructure. Analyst Simon Flannery now views the comms industry as attractive, vs. an in-line outlook before; he's "increasingly positive on the domestic organic growth trajectory."
- And that comes ahead of wireless carriers' 5G deployments this year. There's greater confidence in the 5G leasing cycle, and SBA is "best positioned to outperform in this environment given its leading U.S. tower exposure and attractive relative valuation," he says.
- And it comes with a $337 price target, implying 11.5% upside.
- But he still rates rival Crown Castle International (NYSE:CCI) at Overweight, and sees upside for American Tower (NYSE:AMT) though the rating there is Equal Weight.
- Premarket: CCI -0.1%, AMT +0.2%.