UPDATE: Goldman Sachs Downgrades Ancestry.com to Neutral Post Take-Private Deal
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
|Jan 2013||Canaccord Genuity||Terminates||Hold|
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