Loop Capital analyst Blake Harper points out that it has been over 13 months since Angie's List (ANGI) rejected IAC's (IAC) acquisition bid of $8.75 per share and 10 months since the company announced plans to revamp its subscription business model. An acquisition or partnership would still make sense, Harper tells investors in a research note. The analyst believes Angie's new board composition, which includes an activist investor and two new members, as well as a new chairman, would be "more amenable" to acquisition talks in 2017. He estimates a combined Angie's List and HomeAdvisor, which is owned by IAC, could generate over $160M in adjusted EBITDA in 2017. Harper reiterates a Buy rating on Angie's with a $12 price target. The consumer review marketplace closed yesterday down 3% to $8.33. The company on November 1 announced that it was exploring strategic alternatives.