UPDATE: Piper Jaffray Raises PT to $23 on ValueClick
A report from Piper Jaffray reiterates its Overweight rating and raises its price target from $21 to $23 on ValueClick (NASDAQ: VCLK).
The report states, “ValueClick posted respectable results in a "squishy" macro environment. Noteworthy were results and guidance in its Media segment, representing the company's primary growth engine. De-emphasis on lower-margin segments of the O&O unit will accelerate in future periods, putting modest pressure on top-line growth yet upward pressure on profitability."
VCLK closed yesterday at $18.02.
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