RBC Capital Cuts Price target on IAC/InterActive (IACI) Following 3Q Results
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Rating Summary:
0 Buy, 0 Hold, 0 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 4 | Down: 8 | New: 1
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RBC Capital reiterated a Sector Perform rating on IAC/InterActiveCorp (NASDAQ: IACI), and cut the price target to $70.00 (from $83.00), following the company's 3Q earnings results. Revenue of $839MM, up 7% Y/Y, exceeded Street expectations of $821MM.
Analyst Mark Mahaney commented, "IACI reported better than expected Q3 P&L results, though a surprisingly soft Search growth outlook and limp Paid Dating Sub Net Adds leave us incrementally more cautious. We are reducing estimates and taking our PT down from $83 to $70. Reiterate Sector Perform rating."
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 $64.57 yesterday.
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