UPDATE: Deutsche Bank Raises ExactTarget's PT

According to a research report published this morning, Deutsche Bank has increased ExactTarget's

PT from $35 to $37. In the report, Deutsche Bank said, "ExactTarget reported revenue of $64.1m vs us/Street @ $59.4/$59.1m and EPS of -$0.15 vs us/Street @ -$0.44/-$0.46. The company signed several large customers in the quarter and growth was aided by adoption of social/mobile channels as well as rapid geographic expansion. We believe that as the company is moving up-market they are seeing an increase in deal size and partnering with larger SIs, which further helps to expand geographically and enter new verticals. We are encouraged by the results." Deutsche Bank maintains its Buy rating on ExactTarget, which closed yesterday at $24.22.