UPDATE: Goldman Sachs Reiterates Buy Rating, Raises PT on ValueClick After Tech & Internet Conference
In a report published Friday, Goldman Sachs reiterated its Buy rating on ValueClick (NASDAQ: VCLK), and raised its price target from $27.00 to $30.00.
Goldman Sachs noted, “John Giuliani, CEO, presented at the GS Tech & Internet Conference. We have increased confidence in the company's positioning, in what we believe to be a rising tide of programmatic buying, as the company is executing on client integration, aligning the organization, and differentiating in the market. With a 7% FCF yield, we expect VCLK to resume buybacks and invest in growth. We look towards the company's March 14 investor day as the next major catalyst for the stock.”
ValueClick closed on Thursday at $26.09.
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