Benchmark Maintains Buy on InfoSpace After Management Meetings

The Benchmark Company has published a research report on InfoSpace

after hosting meetings with company management last week. In the report, Benchmark writes, "InfoSpace recently completed the acquisition of TaxACT. We had previously assumed that the rest of 2012 and possibly longer would be dedicated to the absorption of TaxACT. However, InfoSpace continues to look for acquisitions opportunistically. We are encouraged by this at it could further accelerate the use of $750 million in tax assets. Acquisition criteria have not changed but now include TaxACT synergies. Other desired attributes include: profitable, Internet-based, growing and reasonably priced. All core criteria were met in the TaxACT deal. It is unclear if InfoSpace can replicate that type of transaction." The Benchmark Company maintains its Buy rating and $17 price target on InfoSpace, which closed Friday at $12.63.