Deutsche Bank Reiterates IAC/InterActive Buy (IAC)

Deutsche Bank reiterated its IAC/InterActive IACI Buy rating and maintained its $33.50 price target in a research report published today. In the report, Deutsche Bank states, "At 29% growth in 4Q and 22% growth in 2010, IAC's outperformance relative to its Internet media peers is starting to gain some consistency which we think is critical for gaining the respect from investors that it deserves. With a solid cash position ($12/share), US rev base (no translation downside from USD strength), strength in search, leadership in Personals & share buyback program, we like the stock as an alternative play on an Internet advertising recovery." Shares of IAC/InterActive were at $28.78 in pre-market trading at the time of posting, up 0.10% from Wednesday's market close.