IPT in takeover talks

Internet marketing specialist Interactive Prospect Targeting is in ‘preliminary discussions’ with parties that may lead to a bid. The shares jumped sharply last week to 142p. Separately, Goldman Sachs announced a six per cent shareholding in the company.

IPT’s last statement confirmed that trading had picked up strongly in recent months and that the issues which had tripped it up at the turn of the year had been sorted out. At the current price, IPT is valued in the market at around £62 million. The shares were tipped here in January at 179p. Given IPT’s strong position in the online market, a successful bid is likely to be closer to that price than the current one. Hold.