IAC (IAC): Suntrust's Bob Peck Raises Ests And Expects Increasing Focus On Vimeo
- Top 10 News for 10/24 - 10/28: AT&T (T), Time Warner Make it Official; Margins Hamper Apple's Q4; Mergers Aplenty
- Wall St stumbles as FBI to review more Clinton emails
- FBI to review more emails related to Clinton's private email use
- ExxonMobil (XOM) Tops Q3 EPS by 5c; CapEx Light of Views
- Baker Hughes (BHI), General Electric (GE) in Partnership Talks, Not Merger Talks
Get daily under-the-radar research with StreetInsider.com's Stealth Growth Insider Get your 2-Wk Free Trial here.
SunTrust Robinson Humphrey analyst, Bob Peck, reiterated his Buy rating on shares of IAC/InterActiveCorp (NASDAQ: IAC) and raised his price target to $73 from $70 expecting the company to use the 3Q earnings call for a teach in on Vimeo. Match and Homeadvisor are the businesses currently driving growth but Vimeo could be meaningful in the coming year.
The analyst believes 4 things could contribute to overall value for the company: 1) Management continues to educate investors on the different parts of IAC to its Sum-of-the-Parts story, 2) Match Group (NASDAQ: MTCH) continues strong growth led by Tinder and the turnaround with the legacy and affinity brands in North America, 3) 2nd quarter of the new Google Agreement may provide additional clarity into its long-term effects, and 4) Continuation of ~30%+ revenue growth for HomeAdvisor.
Estimates increase slightly for 3Q and 2016 taking Revenues/EBITDA/EPS for 3Q and 2016 from $774M/$127M/$0.62 and $3,145M/$496M/$2.52 to $764M/$128M/$0.63 and $3,126M/$496M/$2.53. On 2017 estimates, the new $73 price target implies 8.8x EV/EBITDA, 1.8x EV/ Revenues, 14.6x P/E, and 18.1x FCF.
Shares of IAC/InterActiveCorp closed at $61.55 yesterday.
Serious News for Serious Traders! Try StreetInsider.com Premium Free!
You May Also Be Interested In
- Oppenheimer Raises Price Target on Wex, Inc. (WEX) Following 3Q Report
- Oppenheimer Adjusts Estimates Ahead of Littelfuse (LFUS) 3Q Report - PT to $155
- Oppenheimer Raises Price Target on Cirrus Logic, Inc. (CRUS); Reiterates Outperform
Create E-mail Alert Related CategoriesAnalyst Comments, Analyst EPS Change, Analyst PT Change
Related EntitiesSunTrust Robinson Humphrey, Earnings
Sign up for StreetInsider Free!
Receive full access to all new and archived articles, unlimited portfolio tracking, e-mail alerts, custom newswires and RSS feeds - and more!