UPDATE: Deutsche Bank Reiterates Buy Rating, Raises PT on DIRECTV

In a report published Monday, Deutsche Bank reiterated its Buy rating on DIRECTV

, and raised its price target from $55.00 to $57.00. Deutsche Bank noted, “Reaffirm Buy - DTV benefits from its higher-end customer base, leading brand, advantaged distribution and exposure to fast-growing LatAm (25% of '12 EBITDA growing 21% '13E). Enhanced by its leading equity shrink (4% of shr/qtr), we expect a 25% FCF/share '13-'16 CAGR. Our new $57 target implies 13% upside.” DIRECTV closed on Friday at $50.35.