Deutsche Bank Reiterates Buy On DMAN

Deutsche Bank has reiterated a Buy Rating On DemandTec DMAN. According to Deutsche Bank, "We raise revenue estimates for the MFactor acquisition and adjust bottomline for higher ongoing expenses. Our $15.00 PT is based on an EV/uFCF/G multiple of 1.4x (from 1.2), a CY12 uFCF estimate of $0.30 and a five-year growth rate net of dilution of 31%. Risks include delays in customer adoption, a prolonged weak macro and larger competitors entering this emerging segment." DMAN has a $15 PT and closed at $13.16 yesterday.