Canaccord Genuity Raises Numbers on IAC/InterActiveCorp (IACI); Strong Q2 Plus Dividend Raise

July 26, 2012 11:31 AM EDT
Get Alerts IACI Hot Sheet
Price: $50.68 -2.86%

Rating Summary:
    0 Buy, 0 Hold, 0 Sell

Rating Trend: = Flat

Today's Overall Ratings:
    Up: 1 | Down: 5 | New: 5
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Canaccord Genuity maintains a 'Buy' on IAC/InterActiveCorp (NASDAQ: IACI) price target of $62.00 (from $60.00).

Analyst, Michael Graham, said, "IAC reported strong Q2 results driven by continued strength in Search, which appears to be sustainable for the medium term. Share repurchases slowed, but the dividend was doubled (now ~2% yield). We are slightly raising our estimates and continue to view IAC stock as a solid, defensive cash generation and return story that is relatively uncorrelated with the Internet sector...We slightly raise 2012 revenue and EPS estimates to $2.73B/$2.90 from $2.66B/$2.88."

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 $51.18 yesterday.

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