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Fly News Breaks for February 6, 2018
IAC, ANGI
Feb 6, 2018 | 08:46 EDT
BMO Capital analyst Daniel Salmon initiated Angi Homeservices (ANGI) with an Outperform rating and a price target of $16. Salmon says the merger with IAC's (IAC) HomeAdvisor creates a " clear market leader in the home services marketplace", and believes the company has "ample" room for growth within the $700B total addressable market. The analyst also sees longer-term catalysts of continued shift to online home services, rising home ownership among millenials, improved product, and scalable margins.
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