UBS maintains a 'Neutral' on IAC/InterActiveCorp (IACI); Continued Momentum with Match & Search

UBS maintains a 'Neutral' on IAC/InterActiveCorp (NASDAQ: IACI), PT increased from $31 to $35.

UBS analyst says, "Google (Nasdaq: GOOG) contract extended to Mar 2016, could be worth ~$5.5B over time - Through the agreement, GOOG provides IACI’s search products and partners with sponsored listings and other search-related services. Mgmt roughly frames the deal as being worth “$5.5B+ over the five years” (not guidance, but a revenue potential using rudimentary run-rates / projections). We model ~$5.6B in overall Search rev from 2011-2015)."

"Well positioned for the mobile opportunity - We highlight increasing momentum for the company’s mobile offerings. Subs logging into Match from mobile devices increased +135% Y/Y to 30% of total. Additionally, 10% of new Match subs are acquired through the mobile channel. IACI’s mobile apps have been downloaded ~50MM times in the past year. We expect IACI to continue to refine mobile offerings on a business-by-business basis."

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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