UPDATE: Wedbush Raises SBA Communications' PT

According to a research report published this morning, Wedbush has increased SBA Communications'

PT from $54 to $62. In the report, Wedbush said, "We continue to expect upside to Adjusted Funds From Operations (AFFO) following the Mobilitie acquisition. While SBAC shares have risen ~14% (vs. 3% for the NASDAQ and 2% for the Russell 1000) since our early March upgrade, we continue to see a valuation discount vs. American Tower (AMT), which in our opinion is unwarranted. We are also raising our formal estimates to reflect the acquisition and note that consensus estimates do not fully reflect the transaction." Wedbush maintains its Outperform rating on SBA Communications, which is currently trading at $53.45.