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Analysts start coverage on IAC, WWE

Analysts at Citi initiated coverage on IAC/InterActiveCorp and World Wrestling Entertainment Inc., TheFly.com reported March 27.

Citi analyst Mark Kelley started IAC at "buy," noting that the company's HomeAdvisor and Vimeo divisions are growth drivers. Kelley has an $89 price target on IAC shares.

Meanwhile, Citi analyst Jason Bazinet initiated WWE coverage with a "buy" rating, expecting the company's move to a web-based subscription model to deliver better growth through 2020 and also improve WWE's strategic value to potential suitors such as 21st Century Fox Inc., Comcast Corp. and Liberty Media Corp.'s Formula One.

Bazinet reportedly has a $25 price target on WWE stock.