UPDATE: Stifel Nicolaus Raises PT on Bankrate on Optimistic Future Guidance

In a report published Tuesday, Stifel Nicolaus analyst Jordan Rohan reiterated a Buy rating on Bankrate (NYSE: RATE), and raised the price target from $19.00 to $20.00.

In the report, Stifel Nicolaus noted, “Bankrate appears to be on the right track from a revenue and margin standpoint, with back half and full year guidance heading higher than prior levels. This directional uptick also helps to drive higher 2014 margins and is part of the reason we have increased our EPS estimates materially. The other half of the estimate revision has to do with lower interest expense due to the refinance of $175mn in debt for around half the prior 11.75% interest rate. Overall, an average quarter with stronger and more optimistic future guidance.”

Bankrate closed on Monday at $15.78.