UPDATE: Deutsche Bank Reiterates On Benefitfocus On Anticipated Good Things Ahead

In a report published Tuesday, Deutsche Bank analyst Greg Poole reiterated a Buy rating on

, but lowered the price target from $75.00 to $60.00. In the report, Deutsche Bank noted, “Modest beat-and-raise with large customers signed. BNFT began FY14 with a modest beat-and-raise, underneath which are large customer wins and continued momentum in the Employer segment. The company reported $30.7m/($0.46) vs. our $29.9m/($0.53) and consensus of $30m/($0.54). Revenue guidance was modestly raised, mostly to account for the beat and leaving some headroom. "The company signed 25 new customers in the Employer segment and 3 new Carriers, most notably United HealthCare, the nation's top carrier with an estimated 30m lives. While today's headline numbers may not impress the skeptics, we see a solid flywheel of business building for BNFT and reiterate our Buy rating.” Benefitfocus closed on Monday at $32.60.