Seeking Alpha

IAC gets new Street-high target

|About: IAC/InterActiveCorp (IAC)|By:, SA News Editor

Bank of America maintains a Buy rating on IAC (NASDAQ:IAC) and raises its target from $340 to $365.

Analyst Nat Schindler cites the recent plans to spin off the Match unit, which the firm sees "meaningfully reducing the conglomerate discount that IAC sees" and potentially increasing IAC's cash position from $1.35B to $3B.

IAC shares are up 0.4% to $227.99. The company has a Buy average Sell Side rating.

Try Seeking Alpha PREMIUM for unlimited analysis on IAC