NEW YORK, Feb 15 (Reuters) - Investors in Barry Diller's Internet media company IAC/InterActiveCorp could be holding a bargain, according to weekly financial newspaper Barron's.
In its Feb. 16 'Technology Week' column, Barron's, citing Cowen analyst Jim Friedland, said the already cash-rich IAC could be even richer by year end.
'IAC has more than $2 billion in cash and investments -- more than $12 a share -- Friedland says the total should top $13 by the end of the year,' according to Barron's.
IAC shares closed at $15.05 on Friday.
Based on the value of IAC-owned dating Website Match.com alone, the shares look like a good value, according to the report, again citing Friedman's analysis.
Match is a 'mature, predictable, recession-resistant, high (return on invested capital) asset with a defensible market position,' said Friedman, according to Barron's.
According to Friedman, the company is unlikely to destroy value with a rash acquisition, and could return cash to shareholders later this year. 'In short, he sees some serious upside ahead,' said Barron's.
(Reporting by Lilla Zuill, editing by Martin Golan) Keywords: IAC INTERACTIVE/ (lilla.zuill@thomsonreuters.com;+1 646 223 6281) COPYRIGHT Copyright Thomson Reuters 2009. All rights reserved. The copying, republication or redistribution of Reuters News Content, including by framing or similar means, is expressly prohibited without the prior written consent of Thomson Reuters.
In its Feb. 16 'Technology Week' column, Barron's, citing Cowen analyst Jim Friedland, said the already cash-rich IAC could be even richer by year end.
'IAC has more than $2 billion in cash and investments -- more than $12 a share -- Friedland says the total should top $13 by the end of the year,' according to Barron's.
IAC shares closed at $15.05 on Friday.
Based on the value of IAC-owned dating Website Match.com alone, the shares look like a good value, according to the report, again citing Friedman's analysis.
Match is a 'mature, predictable, recession-resistant, high (return on invested capital) asset with a defensible market position,' said Friedman, according to Barron's.
According to Friedman, the company is unlikely to destroy value with a rash acquisition, and could return cash to shareholders later this year. 'In short, he sees some serious upside ahead,' said Barron's.
(Reporting by Lilla Zuill, editing by Martin Golan) Keywords: IAC INTERACTIVE/ (lilla.zuill@thomsonreuters.com;+1 646 223 6281) COPYRIGHT Copyright Thomson Reuters 2009. All rights reserved. The copying, republication or redistribution of Reuters News Content, including by framing or similar means, is expressly prohibited without the prior written consent of Thomson Reuters.