UPDATE: Deutsche Bank Reiterates Hold Rating, Raises PT on NetSuite

In a report published earlier today, Deutsche Bank AG reiterated its Hold rating for NetSuite Inc. (NYSE: N) and slightly raised its price target from $40.00 to $41.00.

Deutsche Bank went on to say “We believe that Netsuite's valuation implies a large takeout premium and is fairly valued at current 9.8x EV/Sales. Our PT is based on a 2013 uFCF/share estimate of $0.75, an EV/FCF/G of 1.3x (premium due to SaaS leadership and entry into large ERP installations) and a long-term annual uFCF growth rate of 39%.”

NetSuite Inc. closed at $50.47 yesterday.