UPDATE: Piper Jaffray Lowers PT on comScore from $27 to $18

Piper Jaffray has published a report on comScore Inc reiterating the rating and lowering the price target.

In the report, Piper Jaffray wrote, "While the bar was certainly lowered, incremental concerns relating to the macro environment and resulting extension of sales cycles leave us sidelined at the moment. We estimate management has ~$1M of macro-related "cushion" in 2H11,however we are not yet comfortable this is enough given unabated dependencies on ancillary product growth including ad effectiveness and web analytics. We reiterate our Neutral rating with a revised price target of $18 (from $27)."

Piper Jaffray rated comScore a Neutral with a price target reduced from $27.00 to $18.00. comScore closed Wednesday at $21.07.