UPDATE: Goldman Sachs Initiates ValueClick at Buy on Ad Tech Exposure

Goldman Sachs initiated ValueClick VCLK with a Buy rating and a $25.00 price target. Goldman Sachs said, "We initiate coverage of ValueClick with a Buy rating and $25 12-month price target. We believe that with roughly 60% of its revenue from ad tech businesses and a robust ad tech stack, VCLK is the purest play on the expected growth of the programmatic tier of the display market." ValueClick closed at $20.25 on Wednesday.