IAC/Interactive Downgraded By UBS

IAC/Interactive (Nasdaq: IACI), the operator of the Ask.com and Match.com Internet properties, was downgraded to "neutral" from "buy" by UBS, citing valuation.

UBS says IAC/Interactive's share price reflects the company's aggressive share repurchasing, but that the company is likely to continue selectively repurchasing its own shares. UBS noted there is limited downside to the stock from where it currently trades.