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DoubleClick price target raised

DoubleClick Inc. (Nasdaq: DCLK) shares moved up 5 3/4 to 161 3/4 Tuesday after Janney Montgomery Scott raised its 12-month price target from $150 a share to $250 a share.

The optimistic outlook comes on the same day that the online advertising company announced that it had served 1 billion ads in a single day and is delivering more than 5 billion ads a week.

Over 10,000 sites worldwide use DoubleClick's advertising software including AltaVista, The Wall Street Journal Interactive Edition, The Globe.com, CBS SportsLine, Excite Europe, Infoseek and Bloomberg.

"We have developed a world class infrastructure, designed to give sites the most effective and comprehensive full service ad serving solution," said President Kevin Ryan in a prepared release.

Last quarter, DoubleClick slipped past analysts' estimates, losing $5.4 million, or 13 cents a share, on sales of $44.9 million.

On Monday, DoubleClick was one of a handful of Internet companies that announced strategic partnerships with International Business Machines Corp. (NYSE: IBM) as Big Blue ramps up its online sales and service offerings.

First Call consensus predicts DoubleClick will lose 10 cents a share in its fourth quarter and 49 cents a share in the fiscal year.

DoubleClick shares rallied up to an all-time high of 176 in April after trading at a low of 15 1/2 in December.

Its shares also split 2-for-1 in April.

Sixteen of the 17 analysts following the stock rate it either a "buy" or "strong buy."

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