UPDATE: BMO Capital Upgrades IAC/InterActiveCorp (IAC) to Outperform

BMO Capital analyst Daniel Salmon upgraded IAC/InterActiveCorp (NASDAQ: IAC) from Market Perform to Outperform with a price target of $170.00 (from $250.00).

The analyst comments "It's been a particularly active 12+ months (MGM investment revealed, MTCH spin, investor day, VMEO spin) and we think investors are catching their breath with the IAC story. After IAC's stub value grew with SaaS valuations for VMEO, it has now eased considerably post event and looks attractive again, albeit not at negative implied value as it was up to 2020 when it was our Top SMID pick. From here, we think patient accumulation is appropriate again. Catalysts could include further spin activity (DotDash? Turo?) and/or cash deployment."

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 $134.51 yesterday.

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