UPDATE: Goldman Sachs Downgrades Ancestry.com to Neutral Post Take-Private Deal

Goldman Sachs lowered its rating on Ancestry.com ACOM from Buy to Neutral with a reiterated $36 price target. Goldman Sachs said, "With the company reaching a tentative agreement to be acquired by Permira for $32 per share (expected to close in early 2013), and given a lack of relative upside, we are removing Ancestry from our Buy List. Since being added to the Buy List on December 14, 2011, shares are up 48% versus the Nasdaq up 17.8%. Over the past 12 months, shares have risen 24.5% versus the Nasdaq up 10.8%. We consider ACOM's strategic appeal to be in its strong free cash flow, market leading position, and international expansion opportunities." Ancestry.com closed at $31.50 on Wednesday.