UPDATE: Bank of America Merrill Lynch Reiterates Neutral Rating, Raises PT on Bankrate

In a report published Friday, Bank of America Merrill Lynch reiterated its Neutral rating on Bankrate

, and raised its price target from $12.00 to $14.00. BofA Merrill Lynch noted, “Bankrate is an investment on an ongoing financial markets recovery and the migration of advertising and lead generation dollars online. We think Bankrate should trade at a premium to the lead generation sector due to market position (category leader with product diversification) and higher margins (high 20%).” Bankrate closed on Thursday at $13.43.