UPDATE: Jefferies Raises PT on AOL Following 2Q13 Earnings Call

In a report published Thursday, Jefferies analyst Brian Pitz reiterated a Buy rating on AOL AOL, and raised the price target from $50.00 to $55.00.

In the report, Jefferies noted, “AOL put out 2Q13 with rev slightly below but Adj. OBIDA significantly above cons. Importantly, AOL announced a highly synergistic bolt-on acquisition in Adap.tv, which is expected to close this quarter. We continue to think that AOL is our top small-cap pick in our sector, and reit. our Buy rating.”

AOL closed on Wednesday at $36.69.