Goldman Sachs Upgrades IAC/InterActiveCorp (IACI) to Buy

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October 12, 2011 6:58 AM EDT
Get Alerts IACI Hot Sheet
Price: $50.68 -2.86%

Rating Summary:
    0 Buy, 0 Hold, 0 Sell

Rating Trend: = Flat

Today's Overall Ratings:
    Up: 10 | Down: 13 | New: 20
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Goldman Sachs upgraded IAC/InterActiveCorp (NASDAQ: IACI) from Neutral to Buy with a price target of $46.00.

The firm notes that nearly 35% and 50% of the company's revenue and EBITDA are recurring, generated by the company’s Match segment. The firm also believes IACI has a significant opportunity to turn around the recently acquired Meetic business. Also the comapny has bought 30% of its share base in the last two year and has more than $600 million of net cash.

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 $40.51 yesterday.

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