Deutsche Bank Raises PT on InterActive to $41 (IACI)

Deutsche Bank is out with its report today on InterActiveCorp IACI, raising its PT from $33.50 to $41. In a note to clients, Deutsche Bank writes, "We reiterate our Buy rating on IACI shares, raise our PT to $41, and believe that IAC remains one of the more under-appreciated, yet fastest growing, stories in our coverage universe. Internal execution continues to pay off in terms of profit growth, while search momentum/upside and new $5.5bn search deal with Google should increase investor confidence and visibility into long-term growth prospects at the company. As such, we think the potential for a re-rating of the P/E multiple remains high over the next 12-months." At the time of posting, shares of IACI were trading pre-market at $34.01, up 0.80% from Tuesday's close.