UPDATE: Benchmark Reiterates Buy on ValueClick; $20 PT

Benchmark reiterated a Buy rating on ValueClick (NASDAQ: VCLK) and a price target of $20.

Benchmark wrote, “ValueClick reported solid 2Q12 results with proforma organic growth of 12% y/y. ValueClick lowered it full-year revenue guidance but we had anticipated this. The slight change was due to the softened macro economy and FX. We do not change our 2012 revenue and EBITDA estimates, which are near the midpoints of the new guidance. Our target remains $20 per share. Our rating is Buy.”

ValueClick closed at $15.53 on Thursday.

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