Chart of the Day - SBA Communications (SBAC)

The "Chart of the Day" is SBA Communications (SBAC), which showed up on Monday's Barchart "52-Week High" list. SBA Communications on Monday edged to a new 12-year high of $56.00 and closed up 1.63%. TrendSpotter has been long since June 15 at $53.72. In recent news on the stock, Barron's on May 20 mentioned SBA Communications as a stock that is a candidate for REIT conversion that could offer upside for investors. Macquarie on May 24 upgraded SBA Communications to Outperform from Neutral and raised its target to $60 from $56 based on valuation and growth. Canaccord on May 24 recommended buying cell tower stocks including SBA Communications because tower companies should benefit from cell carrier deployment of 4G LET nationwide networks and from upgrade activity at T-Mobile and Sprint. SBA Communications, with a market cap of $6.5 billion, is a leading independent owner and operator of wireless communications infrastructure in the United States.