UPDATE: JP Morgan Raises PT on ValueClick to $16 (VCLK)

JP Morgan is out with its report today on ValueClick

, raising its price target from $16 to $15. In a note to clients, JP Morgan writes, "We remain Neutral at current valuation of 7.7x our 2011E EBITDA and 19x EPS, roughly in line with our advertising and marketing services space. We look for a pullback in shares or opportunity to increase estimates to get more constructive." At the time of posting, shares of VCLK were trading at $16.54, up 11.76% from Tuesday's close.