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.

Want to read more stories like this?
Get our Free Newsletter Here!