Wells Fargo said Angie's List (ANGI) announcement this morning that Chairman of the Board John Chuang and director Steven Kapner have resigned from the board could be viewed as a signal that Angie's could reconsider IAC's (IAC) offer. However, over the last several months IAC has declared repeatedly that they no longer interested in acquiring Angie's. That said, Wells Fargo continues to believe that Angie's List possesses significant strengths, including very high and category leading unaided consumer brand awareness. The firm has a Market Perform rating on Angie List shares.