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

In a report published Wednesday, Deutsche Bank reiterated its Hold rating on Arbitron ARB, and raised its price target from $37.00 to $48.00. Deutsche Bank noted, “Yesterday before the open, Nielsen announced plans to acquire Arbitron for $48 per share in cash, a 26% premium valuing Arbitron at $1.26bn and above our prior $35 price target. As a result, we are raising our target price on Arbitron to $48 to match Nielsen's bid. We do not see any other likely bidders for Arbitron and believe the current bid will be successful. The only major deal risk we see is that some Arbitron shareholders could potentially try to stop the acquisition, particularly given the slew of announcements yesterday from certain shareholders. We expect the transaction to close at year-end 2013 or sooner.” Arbitron closed on Tuesday at $47.03.