UPDATE: Deutsche Bank Ups PT to $38 on Ariba

Deutsche Bank raises its price target from $36 to $38 on Buy-rated Ariba

as the company begins to execute on its compelling network vision. Deutsche Bank notes, "We came away from Ariba's user event positive about customer momentum, innovation, buyer buy-in and higher spend generation around Ariba's network. Live attendance of 1900 was up 35% y/y (~2000 on webcasts). Buyer anecdotes of higher seller mandates for ARBA network compliance, and greater seller comfort with new sales channels like Discovery is positive. Enhancements to the network, and the vision around buyer-seller collaboration continue to be compelling." ARBA closed at $34.83 on Friday.