William Blair analyst Adam Klauber says LiveRamp's annual user conference further confirmed that the Acxiom unit is ready to stand on its own. Growth and margin improvement prospects for the combined Acxiom business are favorable, and a possible business breakup scenario "would release even further shareholder value," Klauber tells investors in a research note. He believes LiveRamp's growth prospects "remain very strong." LiveRamp is further expanding its market position and forward growth expectations are likely to prove conservative, Klauber contends. He thinks valuing LiveRamp on a stand-alone basis at 4 to 5 times sales could be conservative. The analyst reiterates an Outperform rating on Acxiom.