Oppenheimer Maintains Outperform On IAC Shares, $81 PT

Oppenheimer analyst Jason Helfstein maintained an Outperform rating on Iac/interactivecorp (NASDAQ:IACI) with a price target of $81.00.

Helfstein said, “We are reiterating our $81 target and Outperform rating on IACI ahead of 3Q earnings, this Wednesday AM. We believe Match margins will exceed expectations on reduced competition, and then seasonally accelerate into 4Q. Also, we expect mgmt to provide an update on the timing of Tinder’s monetization, which is now a key part of the upside in the stock. We also believe that Search weakness caused by Chrome 37 update has been in line with or better than expectations. Our $81 target is based on a conservative 11x EBITDA multiple for core Match and $500M valuation for Tinder.”

According to TipRanks.com, which measures analysts’ and bloggers’ success rate based on how their calls perform, analyst Jason Helfstein has a total average return of 18.1% and a 58.6% success rate. Helfstein has a 14.0% average return when recommending IACI, and is ranked #124 out of 3349 analysts.

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