IAC/InterActiveCorp (IACI) NewsBite - Wedbush Morgan Initiates IACI at Outperform

Posted: Tuesday, October 20, 2009 1:33 PM EDT

IAC InterActiveCorp (NasdaqNM: IACI) opened at $19.13. So far today, the stock has hit a low of $19.00 and a high of $19.25. IACI is now trading at $19.13, down $0.05 (-0.26%). Over the last 52 weeks the stock has ranged from a low of $13.23 to a high of $21.28. Wedbush Morgan initiated coverage on IACI today, starting the stock at Outperform with a $25 price target. Technical indicators for the stock are neutral and S&P gives IACI a neutral 3 STARS (out of 5) hold ranking. If you are looking for a hedged play on IACI the stock seems like it could be a candidate for a January out-of-the-money bull-put credit spread below the 17.50 range. [ABR-Seven Summits Strategic Investments NewsBite]

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