UPDATE: Deutsche Bank Initiates Coverage on Vantiv

According to a research report published this morning, Deutsche Bank has initiated Vantiv

with a Buy rating and $26 PT. In the report, Deutsche Bank said, "We believe VNTV is well positioned to benefit from strong growth in card payments, driven by secular migration to electronic payments and improvements in consumer spending. As VNTV gains market share through new client-wins, expands its SMB segment through new bank referrals and value-added resellers (VAR), and anniversaries its FI losses, we expect it to deliver at least 10% revenue growth in the near-to-mid term at record operating margins." Vantiv closed yesterday at $22.52.