News

USA on the Prowl?

1/20/2002 7:00 PM Eastern

Salomon Smith Barney Inc. cable analyst Niraj Gupta reiterated his "buy" rating on USA Networks Inc. and set a $33 12-month target price on the stock. The company's leadership in the online ticketing market and its strong cash position make it a candidate for further acquisitions, he said. In December, USA Networks agreed to sell the remaining interests in its cable programming networks to Vivendi Universal S.A. for about $11.7 billion. The remaining entity — USA Interactive Inc. — will have $2.4 billion in cash for acquisitions. In his report, Gupta said USA management is evaluating as many as 20 different acquisition opportunities.

March