UPDATE: Canaccord Genuity Raises SBA Communications' PT

According to a research report published this morning, Canaccord Genuity has increased SBA Communications' SBAC PT from $56 to $60. In the report, Canaccord Genuity said, "Following the Q1/12 conference call, we are increasing our price target on SBA Communications to $60 per share from $56 to reflect the changes to our forward estimates and outlook for the company. With the acquisition of Mobilitie now behind and with a strong tailwind for the balance of the year from the increased activity of the four largest wireless carriers, we believe 2012 will be one of the better years on record for the US tower stocks. Canaccord Genuity maintains its Buy rating on SBA Communcations, which closed yesterday at $54.33.