UPDATE: Lake Street Capital Initiates ValueClick at Buy on Strong Ad Personalization Outlook

Lake Street Capital initiated coverage on ValueClick (NASDAQ: VCLK) with a Buy rating and a $40.00 price target.

Lake Street Capital analyst Eric Martinuzzi commented, "According to comScore, e-commerce in the U.S. grew to $289 billion in 2012, representing 12.6% growth over the past two years. ValueClick, a provider of digital marketing services, has grown even faster, 19.9%, over the same timeframe. While shares of ValueClick have seen a nice rise recently, we believe investors still underappreciate the uniqueness of the company's affiliate marketing and ad retargeting assets. Just as ValueClick's Commission Junction (CJ) has become the gold standard for affiliate marketing, we believe ValueClick's Dotomi is earning the same reputation for dynamic ad personalization."

ValueClick closed at $27.72 on Friday.