By: Benzinga
December 04, 2012 at 09:10 AM EST
UPDATE: Goldman Sachs Downgrades IAC/InterActiveCorp to Sell on Search Headwinds
Goldman Sachs reduced its rating on IAC/InterActiveCorp (NASDAQ: IACI ) from Neutral to Sell and lowered its price target from $53 to $42. Goldman Sachs noted, "Search represents 52% of IAC revenues and 65% of operating profit. With IAC search revenues having grown at a 37% CAGR over the
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