IAC/InterActiveCorp (IAC) PT Raised to $240 at Cowen After Vimeo Raised Funding at ~$6B Valuation

Cowen analyst John Blackledge raised the price target on IAC/InterActiveCorp (NASDAQ: IAC) to $240.00 (from $180.00) while maintaining a Outperform rating after Vimeo raised $300MM in equity funding at an ~$6BN valuation.

"We raised our 4Q20 estimates based on IAC’s monthly reporting and raised ’21-’25 est., in turn our Sum of the Parts derived PT goes to $240 vs. $180 prior," the analyst commented.

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