IAC InterActiveCorp Upgraded to “Buy” at Benchmark (IACI)

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Web properties owner IAC/InterActiveCorp ( IACI ) on Thursday caught some bullish commentary from analysts at Benchmark Research.

The firm said it boosted its rating on IACI from "Hold" to "Buy" while lifting its price target from $50 to $59. That new target suggests a 17% upside to the stock's Wednesday closing price of $50.36.

A Benchmark analyst commented, "IAC again reported strong results with both Search and Match exceeding expectations. We believe IAC's outperformance will continue. Our prior concerns about the sustainability of toolbars with new browsers and mobile were too cautious. We increase our estimates above conservative guidance and increase our price target."

Accordingly, the firm raised its 2012 and 2013 earnings estimates for the company to $3.06 per share and $3.67 per share, respectively.

IAC/InterActiveCorp shares were mostly flat in premarket trading Thursday.

The Bottom Line
Shares of IAC/Interactive ( IACI ) have a .95% dividend yield, based on last night's closing stock price of $50.36. The stock has technical support in the $46 price area. If the shares can firm up, we see overhead resistance around the $53-$57 price levels.

IAC/InterActiveCorp ( IACI ) is not recommended at this time, holding a Dividend.com DARS™ Rating of 3.3 out of 5 stars.

Be sure to visit our complete recommended list of the Best Dividend Stocks , as well as a detailed explanation of our ratings system here .

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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