UPDATE: Deutsche Bank Reiterates Buy Rating, Raises PT on News Corporation

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

, and raised its price target from $26.00 to $29.00. Deutsche Bank noted, “Reaffirm Buy. We see 16% upside to shares driven by (1) the fastest LT growth prospects among the conglomerates; (2) a sizeable buyback (6% of shares out in FY13E); and (3) valuation upside from splitting off Publishing (spring 2013) and mgmt cleaning-up minorities. Buy.” News Corporation closed on Friday at $24.95.