Stock Watch: Internet Capital Group Climbs on Coverage

Speaking of business-to-business e-commerce, shares of B2B holding company Internet Capital Group (Nasdaq: ICGE), which has stakes in more than 50 companies including VerticalNet, Breakaway Solutions and eMerge Interactive, climbed 4-3/16 to 125-1/8 on Monday. The gain of nearly 3.5 percent came after Wit Capital initiated coverage of Internet Capital Group with a buy rating and a $200 price target.

“We believe that ICG is among a very small group of companies best positioned to benefit from the continued growth of business-to-business e-commerce into the next decade,” Wit Capital analyst Ryan Alexander said.

With the success of eMerge Interactive’s Friday initial public offering, Microsoft’s recent investment in VerticalNet, and IPOs on tap for Internet Capital Group investments including small-business marketplace Onvia.com and customer loyalty service provider iSky, Internet Capital Group’s portfolio could be poised to grow significantly in value.

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