I love IACI's reports by Jefferson Researh and EVA.
Jefferson Research has IACI's earning quality, evaluation and cash flow quality as Strong. Operating Efficiency as the Strongest. Jefferson Research has over 95% of accuracy of its rating and facts. EVA has IACI as a buy right now based on all the strong cash flow, strong earning and strong operating efficiency. Get ready for a strong earning surprise in the first part of 2013 for IACI. IACI is an easy $60 dollars stock.
Balance sheet is "weak" with more cash than debt ? Silly. Stock trades at about 5x EBITDA and 13% FCF yield for '13 -- bears and shorts have been "playing with it" since the fall confusion but the valuation relative to fundamentals is very cheap. Company has history of buying back a lot of stock when it's oversold and that's one of the reasons they just issued debt at attractive rates.