Canaccord Genuity Maintains a 'Hold' on IAC/InterActiveCorp (IACI); Q1 Results Strong
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Price: $50.68 -2.86%
Rating Summary:
0 Buy, 0 Hold, 0 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 8 | Down: 5 | New: 26
Rating Summary:
0 Buy, 0 Hold, 0 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 8 | Down: 5 | New: 26
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Canaccord Genuity maintains a 'Hold' on IAC/InterActiveCorp (NASDAQ: IACI), raises PT to $34.
Canaccord analyst says, "IAC Q1/11 results exceeded consensus expectations due to strength in the company’s Search division and profitability at Match. Though user declines at IAC as a whole raise questions about the sustainability of this growth, the company was able to lock in $5.5B in revenues from Google over the next five years, nearly 60% above their previous relationship. With IACI trading at 6x 2011E EV/EBITDA with $1.2B in net cash, we believe the risk/reward at these levels is relatively balanced."
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.
Canaccord analyst says, "IAC Q1/11 results exceeded consensus expectations due to strength in the company’s Search division and profitability at Match. Though user declines at IAC as a whole raise questions about the sustainability of this growth, the company was able to lock in $5.5B in revenues from Google over the next five years, nearly 60% above their previous relationship. With IACI trading at 6x 2011E EV/EBITDA with $1.2B in net cash, we believe the risk/reward at these levels is relatively balanced."
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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