UPDATE: Topeka Raises Bankrate PT on Late-Year Margin Trends

In a Thursday report, Topeka Capital Markets reiterated its Hold rating on Bankrate, Inc.

and increased its price target from $11 to $13, citing improvements in credit card macro trends. Topeka noted, "At an investor conference yesterday, Bankrate's CFO, Ed DiMaria, sounded upbeat about margin trends in the back half of the year. In addition, latest available data for macro credit mailings showed signs of improvement. Our price target increases to $13 from $11 on an increase in our target multiple." Bankrate closed Wednesday at $11.55