IACI: Steady Growth and Reasonable Value

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David Evanson and Michael Graham

Forbes.com, Winter, 2011

Canaccord Internet-tech analyst Michael Graham initiated on IAC (IACI) earlier this week with a BUY rating and $55 price target. Mr. Graham said:

“Search segment growth should remain strong as the Mindspark Toolbar [offering highly consumable interactive content] business grows in the mix to offset slower-growth Ask.com.”

He added, “The Match (online dating) segment should see continued growth. Margins will be compressed in the near term from the Meetic acquisition, but should expand significantly in H2/12 and 2013.”