35 AI News You Should Not Miss

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29. SBA Communications Corporation (NASDAQ:SBAC)

Number of Hedge Fund Holders: 45

SBA Communications Corporation (NASDAQ:SBAC) is a leading independent owner and operator of wireless communications infrastructure including towers, buildings, rooftops, distributed antenna systems (DAS) and small cells. The firm plays a critical role in supporting the infrastructure necessary for AI-driven technologies and services, especially those related to telecommunications and data processing. JPMorgan recently raised the price target on the stock to $250 from $228 and kept a Neutral rating on the shares. The advisory highlighted in a research note that the Federal Communications Commission had granted EchoStar its extension requests, which was positive news for the tower companies. EchoStar committed to increase its 5G sites by 60% to 24,000 by June 2025, the advisory told investors in a research note. JPMorgan estimates the additional buildout could add up to two percentage points of incremental gross leasing revenue growth for the tower companies by Q2 of 2025.

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