-- 独立系調査会社CFRAは、に対し、以下の調査レポートを提供しました。CFRAのアナリストは、以下のように見解をまとめています。12ヶ月目標株価を20ドル引き上げ、250ドルとします。これは、2026年予想EV/EBITDA倍率20.0倍を適用したもので、過去3年間の平均倍率19.8倍を上回る水準であり、国際事業の成長改善を反映しています。2026年のAFFO予想を0.35ドル引き上げ、12.30ドルとします。一方、2027年のAFFO予想は0.22ドル引き下げ、13.00ドルとします。SBACは、顧客離れに伴う逆風が予想されるにもかかわらず、国内航空会社の支出増加により第1四半期に業績が改善しました。経営陣は、この逆風は2026年にピークを迎えると見ています。最近、SBACが大手インフラファンド、特にKKR & Co（KKR 104 ****）とBrookfield Asset Management（BAM 48 ****）による買収候補であるとの噂が浮上しています。経営陣はコメントを控えたが、買収への関心は電話会議で話題に上がった。当社は、ミリコムとの統合により今年のROICは低下するものの、2027年には収益性の向上に伴いROICは拡大すると考えている。中米地域は長期的な成長と新たなタワー投資の可能性があり、リスク調整後リターンも魅力的であると当社は考えている。
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Research Alert: CFRA Maintains Buy Opinion On Shares Of Sba Communications Corporation
CFRA, an independent research provider, has providedwith the following research alert. Analysts at CFRA have summarized their opinion as follows:We increase our 12-month target price $20 to $250, applying an EV/EBITDA multiple of 20.0x our 2026 estimate, a premium to its three-year average multiple of 19.8x, reflecting improving international growth. We increase our 2026 AFFO estimate by $0.35 to $12.30 and decrease 2027 by $0.22 to $13.00. SBAC saw improvement in Q1 from domestic carrier spending picking up despite known churn-related headwinds, which management believes will peak in 2026. Recent rumors have emerged identifying SBAC as a buyout candidate from major infrastructure funds, specifically KKR & Co (KKR 104 ****) and Brookfield Asset Management (BAM 48 ****). Management offered no comment, but takeover interest was a question that came up on the call. We continue to believe Millicom integration will drive ROIC lower this year before expanding in 2027 as profitability increases. Central America has potential for long-term growth and new tower investment with attractive risk-adjusted returns, in our view.
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Research Alert: CFRA Retains Hold View On Shares Of Regency Centers Corporation
CFRA, an independent research provider, has providedwith the following research alert. Analysts at CFRA have summarized their opinion as follows:We increase our 12-month target by $2 to $83, 17.1x our 2026 FFO estimate, a premium to both the three-year average (15.6x) to reflect strength in grocery-anchored shopping centers. We increase our 2026 FFO view by $0.06 to $4.86 and increase 2027 by $0.05 to $4.99. REG continues to generate high re-leasing spreads with seasonally elevated occupancy. The current signed-not-occupied pipeline is a tailwind with $42 million of incremental rental growth as tenants move-in. Management believes it will have $1B in project starts over the next three years creating an internal growth story to monitor. Current development pipeline exceeds $600 million with blended returns over 9%. We view REG as fairly valued with lower multiple grocery anchored names providing similar growth with stronger geographic footprints, in our view.
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Research Alert: CFRA Maintains Sell Rating On Shares Of Entegris, Inc.
CFRA, an independent research provider, has providedwith the following research alert. Analysts at CFRA have summarized their opinion as follows:We lift our price target by $19 to $114, 32x our 2026 EPS view ($3.55), near peers but below ENTG's three-year average multiple (~34x) as mainstream weakness and rising competition offset AI upside. We lift our 2026 EPS view by $0.17 to $3.55 and raise 2027's by $0.04 to $4.64. Our 2027/2028 view keeps creeping up for ENTG along with the company's improving new fab construction forecast for 2026 (now to high-single digits vs. a mid-single-digit view last quarter), with related revenues generally following on a nine to 18 month lag. Still, near-term results remain vulnerable to mainstream activity (30% of sales) that should face challenges from the memory shortage, and we view ENTG's overall AI exposure as fairly limited (based largely around overall fab activity and construction starts) compared to peers, making a more premium valuation harder to justify, especially given recent underperformance. China sales fell 4% Y/Y in Q1 2026 (18% of Q1 total) and remain a risk given our view of intensifying local competition.
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