UPDATE: Goldman Sachs Raises PT on ValueClick Following Investor Day

In a report published Friday, Goldman Sachs analyst Debra Schwartz reiterated a Buy rating on ValueClick VCLK, and raised the price target from $30.00 to $34.00. In the report, Schwartz noted, “ValueClick held its investor day yesterday, a forum for CEO John Giuliani to articulate his new growth strategy for the company. Through data, personalization, and ad tech, the company expects to reaccelerate organic revenue growth to the high teens from the 13% pro forma achieved in 2012. Management has built much of the foundation to grow share by creating a unified product offering tied to unique data with the organization aligned for integrated selling. With many of the technologies rolling out this year, we expect to see the impact towards 2014. We are increasing 2014 estimates (revenue and EBITDA by about 3.5%) on the more optimistic growth outlook, and raise our target price to $34 from $30.” ValueClick closed on Thursday at $28.71.