KeyBanc lowered the firm’s price target on IAC (IAC) to $60 from $66 and keeps an Overweight rating on the shares. The surprise from IAC’s earnings report is that the company is now considering spinning out its 85% ownership in Angi Inc. (ANGI) to IAC shareholders, the firm says. While Angi Inc. is not being spun out in a complete position of strength, KeyBanc does believe this should clean up IAC and provide more focus on Dotdash Meredith, Care.com, and ownership stakes in MGM and Turo.
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Read More on IAC:
- 3 Best Stocks to Buy Now, 11/20/2024, According to Top Analysts
- Angi Inc. price target lowered to $6 from $7 at Benchmark
- IAC price target lowered to $105 from $110 at Benchmark
- IAC assumed with a Buy at Jefferies
- IAC price target lowered to $80 from $88 at Truist
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
