Goldman Sachs Starts Ancestry.com (ACOM) at Buy

Goldman Sachs initiates coverage on Ancestry.com (NASDAQ: ACOM) with a Buy rating and $33 price target.

"We believe Ancestry is attractively valued relative to the growth opportunity in its core family history product," the firm said.

The firm cites a solid content model. In addition, Goldman expects strong subscriber seasonality in the 1st-half of 2012 due in part to research-conducive weather, but also due to the annual airing of NBC's Who Do You Think You Are?.

Goldman also sees growth opportunities, being only 1.7 million penetrated into the estimated 13 million subscriber addressable market in the US.

For an analyst ratings summary and ratings history on Ancestry.com click here. For more ratings news on Ancestry.com click here.

Shares of Ancestry.com closed at $22.99 yesterday.

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