Shares of IAC/Interactive (IACI) could get a boost today as Deutsche Bank initiated coverage of the internet media play with a buy rating and $63 price target.
Analyst Ross Sandler points out “IAC has done a better job than many peers at getting the most out of the assets it manages. Ask.com is a good example; it was on a $50m annualized revenue run rate when IAC acquired it in 2005, and now is on pace to generate around $600m in revenue in 2012. Match.com is one of the best subscription businesses in the Internet, and if IAC were to spin the Personals business at some point, additional shareholder value could be created.”
Shares of IAC/Interactive (IACI) are up nearly 27% YTD.
The Bottom Line
Shares of IAC/Interactive (IACI) have a 1.78% dividend yield, based on last night’s closing stock price of $54.01. The stock has technical support in the $50-$51 price area. If the shares can firm up, we see overhead resistance around the $60 price level.
IAC/Interactive (IACI) is not recommended at this time, holding a Dividend.com DARS™ Rating of 3.4 out of 5 stars.
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