Janney Montgomery Scott Initiates Coverage on Internet Capital Group (ICGE) with a Buy; Valuation Compelling
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Janney Montgomery Scott initiates coverage on Internet Capital Group (Nasdaq: ICGE) with a Buy.
Janney analyst says, "ICG acquires and builds on-demand Internet software and online marketing companies. Over the next year, the company is likely to exit several portfolio companies and provide additional insight into the growth and operating results of its remaining holdings. With increased spending on on-demand software and stabilizing online marketing budgets over this time period, we project that the stock will narrow the gap between its current price and its intrinsic value, moving toward our fair value estimate of $11, which offers potential appreciation of 73%."
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Internet Capital Group, Inc. (ICG) is focused on acquiring and building Internet software and services companies.