Cantor Fitzgerald Reiterates Buy Rating, $22 PT on ValueClick

In a report published Wednesday, Cantor Fitzgerald reiterated its Buy rating and $22.00 price target on ValueClick VCLK. Cantor Fitzgerald noted, “ValueClick recently divested Search123, its European paid-search business, and pre-viewed 3Q results, with management now expecting 3Q:12 revenue and EBITDA to be near the high end of previously-issued guidance. As a result, we're raising our 3Q:12 estimates to reflect the better-than-expected quarter, while reiterating our BUY rating and $22 target, given the still compelling valuation. ValueClick closed on Tuesday at $17.38.