Deutsche Bank Initiates Coverage of Web.com with Buy Rating, $20 PT

In a report published earlier today, Deutsche Bank AG initiated coverage of Web.com Group, Inc. (NASDAQ: WWWW) with a Buy rating and a $20.00 price target.

Deutsche Bank went on to say “We see the company benefiting from (1) secular trends shifting online, (2) new product cycles (mobile and social) and (3) improving ARPU, margins and deleveraging post the acquisition of Network Solutions and Register.com. The shares are inexpensive despite improving product and financial momentum which we believe can cause a re-rating of the multiple as the company executes on the cross-sell / up-sell opportunity over the remainder of 2012.”

Web.com Group, Inc. closed on Friday at $15.01.