UPDATE: Cantor Fitzgerald Downgrades Ancestry.com to Hold; Acquisition Price Low

Cantor Fitzgerald downgraded Ancestry.com ACOM from Buy to Hold and reiterated its $37 price target. Cantor Fitzgerald commented, "We are downgrading ACOM to HOLD from BUY following the Permira-led acquisition of the company announced on 10/22 at $32 per share. The proposed valuation seems somewhat low to us, given historical multiples paid for similar transactions, and no competing offers have emerged. We recommend that investors focus on more compelling opportunities in the Internet space. Ancestry.com closed at $31.58 on Monday.