Jefferies Reiterates Buy Rating on IAC/InterActiveCorp (IAC) on Buyback 'Juice'

Jefferies analyst Brent Thill reiterated a Buy rating and $90.00 price target on IAC/InterActiveCorp (NASDAQ: IAC), noting the buybacks are coming with plenty of authorization 'juice in the tank.

The analyst commented, "IAC repurchased $59M of stock in Q2, repurchasing shares for the first time since 2018. IAC has a rich history of share repurchases, spending over $2.5B on buybacks from '09 to '13. While IAC's existing businesses face NT headwinds, we believe capital allocation can serve as a positive catalyst for shares. IAC is equipped with $1.2B of cash and no debt at the parent level, allowing IAC to execute against a range of potential capital allocation strategies."

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 $69.32 yesterday.

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