UPDATE: Bank of America Reiterates Buy Rating, Raises PT on Bankrate as Insurance Quality Initiative is Paying Off

In a report published Friday, Bank of America analyst Joyce Tran reiterated a Buy rating on

, and raised the price target from $20.00 to $22.00. In the report, Bank of America noted, “Bankrate is an investment on an ongoing financial markets improvement and the migration of advertising and lead generation dollars online. We think Bankrate should trade at a premium to the lead generation and SMID cap. advertising sector due to its strong market position (supported by higher margins) and high returns on capital.” Bankrate closed on Friday at $17.40.