UPDATE: Wedbush Raises PT on IAC/InterActiveCorp to $37 (IACI)

Wedbush is out with its report today on IAC/InterActiveCorp (NASDAQ: IACI), raising its PT from $35 to $37.

In a note to clients, Wedbush writes, "Based on our sum-of-the-parts analysis, we believe our target could prove conservative based on our estimate for $14.96/share of cash, public equity investments valued at $1.36/share and our estimated value of $20.75 for its business units."

Wedbush maintains Outperform on IACI.

At the time of posting, shares of IACI were trading at $32.23, up 1.07% from Thursday's close.