Zacks Investment Research upgraded shares of Liberty Interactive Corporation (LINTA) from NEUTRAL to OUTPERFORM on September 11, 2012, with a target price of $23.00.
We upgrade our recommendation on Liberty Interactive to Outperform following its robust financial results for the second quarter of 2012. Both top- and bottom-line beat the Zacks Consensus Estimates. We believe the TV home shopping business will continue to flourish in the near future as the global macro-economy is expected to gradually stabilize compared with massive fluctuations in the last couple of years. The company's prestigious QVC division continues to perform exceptionally well. The QVC shopping network has successfully transformed itself into a powerful global brand, which may facilitate Liberty Interactive to boost its revenue in double digits. The strategic move taken by management to offer QVC programs on mobile platforms, such as smartphones and tablets, was a huge success. Furthermore, Liberty Interactive is continuously generating positive free cash flow to sustain its future endeavors.
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