Buy - Price 7.02 on March 11
by Pacific Growth Equities

In our view, INET has quietly developed a highly profitable business (30%+ Ebitda margin) by building and acquiring Websites with high volume of organic traffic, and improving monetization of these sites. We believe its organic traffic-acquisition model provides less volatility to the business and is sustainable in the long run. With the stock trading well below the industry averages, we believe investors have yet to recognize the intrinsic value of the organic traffic generated by its Websites and its scalable traffic-monetization platform. Initiating coverage of INET with a Buy rating and a fair value of $12/share. Market-cap: $306 million.