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ABN Amro Upgrades Doubleclick to Buy

ABN Amro upgrades Doubleclick (DCLK) shares to buy from add on the potential structural business shift by the company.

Analyst David Doft says he has confidence in Doubleclick's outlook as its management decides to exit the struggling, money-losing media business. The analyst thinks the company would be immediately profitable if it were to exit that area. The move would remove a significant drag on shares, potentially causing revaluation of Doubleclick upwards as a technology and data play. Doft says the value of remaining businesses, plus its cash in the bank, well exceed the current share price.

Doft raises his 12-month stock price target to the mid-teens from low double digits based on his sum of parts valuation.

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