Web properties owner IAC/InterActiveCorp (
) on Thursday caught some bullish commentary from analysts at
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
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,
IAC/InterActiveCorp shares were mostly flat in premarket trading
The Bottom Line
Shares of IAC/Interactive (
) 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.
) is not recommended at this time, holding a Dividend.com DARS™
Rating of 3.3 out of 5 stars.
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