UPDATE: Bank of America Raises Ancestry.com's PO

According to a research report published this morning, Bank of America has increased Ancestry.com's

PO from $31 to $34. In the report, Bank of America commented, "Once again, international helped show the viability of Ancestry reporting long-term mid-teens growth. Despite being twice as penetrated as the U.S. market and having eight season of WDYTYA?, U.K. sub revenue grew 16% y/y on an 8% y/y increase in subs while rest of world revenue increased 32% y/y on a 25% y/y increase in subs. We are reiterating our Buy rating while raising our PO to $34 (from $31) based on 15x our raised 2013 non-GAAP EPS estimate of $2.22." Ancestry.com is currently trading at $27.45.