UPDATE: Goldman Sachs Downgrades ValueClick Citing Uncertainty

In a report published on Wednesday, Goldman Sachs analyst Debra Schwartz downgraded ValueClick (NASDAQ: VCLK) from Buy to Neutral and lowered the price target from $31 to $29.

In the report, Goldman Sachs noted, "We continue to believe VCLK is well positioned in the rising tide of programmatic buying, but look for evidence of a 2H reacceleration of media revenue growth to stay constructive on VCLK".

ValueClick closed on Tuesday at $25.40.