Needham & Company Maintains a 'Buy' on IAC/InterActiveCorp (IACI); Raising Price Target Following Strong 1Q11 Report

Needham & Company maintains a 'Buy' on IAC/InterActiveCorp (NASDAQ: IACI), PT increased from $35 to $38.

Needham analyst says, "IACI reported 1Q11 results, which represented a solid top- and bottom-line beat. Total rev and OIBA of $460MM and $60MM were both well above our ests of $436MM and $38MM resp., with upside largely driven by strength in the Search and Personals segments. We continue to view IACI as one of our top value ideas and see catalysts as being continued solid growth, margin expansion, and resumed share repurchases." (Needham raises FY11 EPS estimate from $1.60 to $1.73 and FY12 from $1.95 to $2.07)

For more ratings news on IAC/InterActiveCorp click here and for the rating history of IAC/InterActiveCorp click here.

Shares of IAC/InterActiveCorp closed at $33.74 yesterday.

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