SBA Communications (SBAC) is facing limited near-term growth as rising costs and the loss of customers weigh on its financial outlook, Deutsche Bank said in a note Tuesday.

The operator of wireless communications infrastructure's adjusted funds from operations are expected to grow at a 0.4% compound annual growth rate between 2024 and 2027, Deutsche Bank analysts said.

AFFO forecasts remain 1-3% below consensus for 2025 through 2027, reducing confidence in near-term upside, the analysts said.

Deutsche Bank downgraded SBA Communications to hold from buy while raising its price target to $247 from $233.

Price: 234.59, Change: -0.92, Percent Change: -0.39