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

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Jefferies & Company Terminates Coverage on Ancestry.com
Benzinga's M&A Chatter for Thursday December 27, 2012

Goldman Sachs lowered its rating on Ancestry.com (NASDAQ: 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.

Latest Ratings for ACOM

DateFirmActionFromTo
Jan 2013PiperJaffrayTerminatesNeutral
Jan 2013Canaccord GenuityTerminatesHold
Dec 2012JefferiesTerminatesHold

View More Analyst Ratings for ACOM
View the Latest Analyst Ratings

Posted-In: Goldman SachsAnalyst Color Downgrades Intraday Update Analyst Ratings

 

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