Citi downgrades ValueClick
July 18, 2008
ValueClick gets downgraded… because they stopped focusing on search…..
Citi downgrades ValueClick (Nasdaq: VCLK) from Buy to Hold and removed the stock from Top Picks Live list. Price target lowered to $15.
Citi analyst says, “Bottom-line - VCLK pre-announced lower guidance citing macro weakness and a deteriorating competitive position. While Lead Generation revenue was flattish Q/Q, the Display & Comparison Shopping segments were weak. Against a deteriorating macro environment, online Display advertising is being materially impacted, much more so than performance based Search advertising. We believe VCLK is seeing Display ad weakness across almost all verticals.”
Banners are about as efficient as Print Media… and another thing worth mentioning.. isn’t this a bit of the pot calling the kettle black? It’s not like Citi is in perfect health … they just announced a 2.5 billion dollar loss
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