Needham & Company Upgrades IAC/InterActiveCorp (IACI) to Buy, Cites Search Application Growth
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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: 13 | Down: 11 | New: 11
Rating Summary:
0 Buy, 0 Hold, 0 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 13 | Down: 11 | New: 11
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Needham & Company upgraded IAC/InterActiveCorp (NASDAQ: IACI) from Hold to Buy with a price target of $65.00, citing strong search application growth and improving profitability.
"We are upgrading IAC to a BUY rating from HOLD given the strength of its Search Application growth, which should propel Search revenue and profitability ahead of expectations," analyst Kerry Rice said. "Additionally, we believe the turnaround of Meetic is progressing and incremental marketing spend could accelerate IAC's Online Personals revenue ahead of expectations in 2013."
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 $52.06 yesterday.
"We are upgrading IAC to a BUY rating from HOLD given the strength of its Search Application growth, which should propel Search revenue and profitability ahead of expectations," analyst Kerry Rice said. "Additionally, we believe the turnaround of Meetic is progressing and incremental marketing spend could accelerate IAC's Online Personals revenue ahead of expectations in 2013."
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 $52.06 yesterday.
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