UPDATE: Cantor Fitzgerald Downgrades ValueClick to Hold, Lowers PT Following 1Q Results

In a report published Wednesday, Cantor Fitzgerald analyst Youssef Squali downgraded the rating on ValueClick VCLK from Buy to Hold, and slightly lowered the price target from $32.00 to $31.00. In the report, Squali noted, “ValueClick reported 1Q results, which were virtually inline with expectations, but a decelerating top-line growth (to +13.0% vs. expected acceleration from 4Q:12's +14%) and a weaker FY:13 outlook are causing us to move to the sidelines. With the stock at our price target following a material appreciation since January, we are downgrading it to HOLD and lowering our PT to $31 from $32.” ValueClick closed on Tuesday at $31.74.