Barclays Maintains an 'Overweight' on IAC/InterActiveCorp (IACI); About Face!
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Price: $51.32 +0.86%
Rating Summary:
10 Buy, 3 Hold, 1 Sell
Rating Trend:
Down
Today's Overall Ratings:
Up: 13 | Down: 25 | New: 24
Rating Summary:
10 Buy, 3 Hold, 1 Sell
Rating Trend:
Down
Today's Overall Ratings:
Up: 13 | Down: 25 | New: 24
Trade IACI Now!
Barclays maintains an 'Overweight' on IAC/InterActiveCorp (NASDAQ: IACI) price target of $63.00.
Analyst, Mark May, said, "Yesterday Reuters reported that IAC has emerged as a potential bidder for the About.com assets from the New York Times Co. (NYSE: NYT)(Equal Weight) for a purchase price that could be in the $300mn range. While we cannot substantiate these reports, we do see the potential strategic synergies with certain of IAC's businesses - at the right price."
"With a significant amount of original content and more than 90mn monthly users worldwide, About.com is a complementary asset to IAC's many online media assets (e.g., Ask.com, Citysearch, Dictionary.com, etc.)....About.com could leverage the terms of IAC's contract with Google (Nasdaq: GOOG)...About.com could leverage promotion across IAC's network of media properties to drive incremental traffic...and backoffice cost savings."
For an analyst ratings summary and ratings history on IAC/InterActiveCorp click here. For more ratings news on IAC/InterActiveCorp click here.
Shares of IAC/InterActiveCorp closed at $51.90 yesterday, with a 52 week range of $34.54-$54.20.
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Analyst, Mark May, said, "Yesterday Reuters reported that IAC has emerged as a potential bidder for the About.com assets from the New York Times Co. (NYSE: NYT)(Equal Weight) for a purchase price that could be in the $300mn range. While we cannot substantiate these reports, we do see the potential strategic synergies with certain of IAC's businesses - at the right price."
"With a significant amount of original content and more than 90mn monthly users worldwide, About.com is a complementary asset to IAC's many online media assets (e.g., Ask.com, Citysearch, Dictionary.com, etc.)....About.com could leverage the terms of IAC's contract with Google (Nasdaq: GOOG)...About.com could leverage promotion across IAC's network of media properties to drive incremental traffic...and backoffice cost savings."
For an analyst ratings summary and ratings history on IAC/InterActiveCorp click here. For more ratings news on IAC/InterActiveCorp click here.
Shares of IAC/InterActiveCorp closed at $51.90 yesterday, with a 52 week range of $34.54-$54.20.
Join StreetInsider.com FREE and get immediately alerted when news breaks on your stocks and other market items - JOIN NOW
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