UPDATE: Jefferies Lowers Price Target on Ancestry.com to $34

According to Jefferies, Ancestry.com

price target is lowered to $34. Jefferies said that ACOM pre-announced 4Q11 results in January, which came in-line with guidance/Street cons. “We're adjusting our ests and PT while maintaining a Buy rating on a compelling valuation.” Ancestry.com closed yesterday at $28.52.