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Fly News Breaks for December 23, 2019
IAC
Dec 23, 2019 | 07:25 EDT
As previously reported, Wedbush analyst Ygel Arounian initiated coverage of IAC (IAC) with an Outperform rating and $295 price target. The analyst expects it to come out of the Match (MTCH) spin in a strong position to rebuild its portfolio and set up its next stage of growth. He expects IAC to "significantly" improve its balance sheet through the spin by transferring $1.7B of exchangeable notes, and adding $700M-$2.2B in cash from the split.
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