UPDATE: Canaccord Genuity Raises PT on SBA Communications Corporation on Robust Outlook

In a report published Monday, Canaccord Genuity reiterated its Buy rating on SBA Communications Corporation (NASDAQ: SBAC), and raised its price target from $79.00 to $85.00.Canaccord Genuity noted, “We reiterate our BUY rating on the shares of SBAC and increase our price target to $85 from $79 following an exceptional Q4/12 report and a conference call that outlined numerous favorable tailwinds that likely further bolster its outlook throughout the year. We believe that recent fear from interest rate risk and further wireless industry consolidation is likely overstated, given the company's low inflation exposure, mostly fixed-rate debt schedule and existing MLAs with both Sprint and TMobile. As such, we continue to see recent weakness as an attractive opportunity to accumulate the shares.”SBA Communications Corporation closed on Friday at $70.00.