Oppenheimer Boosts Target, Estimates for IAC/InterActiveCorp; Sees Several Catalysts (IACI)

Internet properties operator IAC/InterActiveCorp. (IAC) on Thursday received some positive commentary from analysts at Oppenheimer & Co.

The firm reiterated its “Outperform” rating on IACI and lifted its price target to $67. That new target suggests a 27% upside to the stock’s Wednesday closing price of $52.73.

Oppenheimer also lifted its earnings estimates for the company, citing numerous catalysts that could positively impact the company’s bottom line in coming quarters.

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

The Bottom Line
Shares of IAC/Interactive (IACI) have a 1.82% dividend yield, based on last night’s closing stock price of $52.73. The stock has technical support in the $48-$50 price area. If the shares can firm up, we see overhead resistance around the $54-$57 price levels.

IAC/InterActiveCorp. (IAC) is not recommended at this time, holding a Dividend.com DARS™ Rating of 3.4 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.

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