Deutsche Bank Reiterates Buy on Cardtronics

Deutsche Bank reiterates its Buy rating on Cardtronics CATM. In a note to clients, Deutsche Bank writes, "The CATM growth story is straightforward in our view: adding new ATMs to the network and adding new fee streams to existing ATMs within the network. We believe the latter is far more profitable way to grow, and we think CATM is pursuing this direction via 3 primary underpenetrated areas, bank branding (~50% penetrated), Allpoint surcharge-free network (10-15% penetrated), and managed services (~2% penetrated)." Deutsche Bank raises its price target on CATM from $21 to $25. CATM closed yesterday at $17.