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ANGI

Angi Homeservices

$6.77

-0.03 (-0.44%)

, IAC

IAC

$225.23

-0.23 (-0.10%)

08:51
10/11/19
10/11
08:51
10/11/19
08:51

IAC does not currently intend to pursue Angi Homeservices separation

In a regulatory filing earlier, IAC (IAC) noted that on August 7, the company announced its intention to explore the possibility of a transaction resulting in a separation of IAC from its interests in either or both of Match Group (MTCH) and Angi Homeservices (ANGI). As publicly disclosed, IAC has made a proposal to a special committee of the board of directors of Match with respect to a potential transaction involving its ownership interest in Match. IAC stated in the filing that it does not currently intend to pursue a separation transaction with respect to Angi during the negotiation or execution of a transaction related to Match. "However, IAC is evaluating its ownership interest on an ongoing basis. IAC may or may not pursue a transaction involving ANGI in the future...IAC reserves the right to, and may in the future choose to, take such actions as it deems appropriate in light of the circumstances including, without limitation, to dispose of, in the open market or in a private transaction, all or a portion of the shares of the ANGI Class A Common Stock or ANGI Class B Common Stock which IAC now beneficially owns or may hereafter acquire," the filing added.

ANGI

Angi Homeservices

$6.77

-0.03 (-0.44%)

IAC

IAC

$225.23

-0.23 (-0.10%)

MTCH

Match Group

$75.93

0.07 (0.09%)

ANGI Angi Homeservices
$6.77

-0.03 (-0.44%)

08/12/19
JEFF
08/12/19
NO CHANGE
Target $300
JEFF
Buy
IAC price target raised to $300 from $280 at Jefferies
Jefferies analyst Brent Thill raised his price target for IAC (IAC) to $300 from $280 and keeps a Buy rating on the shares. A spinoff of Angi Homeservices (ANGI) is unlikely given the recent stock underperformance, but a Match Group (MTCH) is more likely, Thill tells investors in a research note. IAC's current stake in Match is worth $240 per share versus the current $255 stock price, which doesn't reflect the value of the other assets, explains the analyst. He says IAC remains a top mid cap pick for its ability to create long-term shareholder value.
09/17/19
SBSH
09/17/19
INITIATION
Target $9.5
SBSH
Neutral
Angi Homeservices initiated with a Neutral at Citi
Citi analyst Nicholas Jones started Angi Homeservices (ANGI) with a Neutral rating and $9.50 price target. Risk of an economic downturn, the company's ability to shift consumer behavior, and the threat of Alphabet's (GOOG, GOOGL) Google remain risks to Angi's business, Jones tells investors in a research note.
09/18/19
COWN
09/18/19
NO CHANGE
Target $315
COWN
Outperform
IAC spinoffs could unlock $3B in value at current levels, says Cowen
Cowen analyst John Blackledge explored the potential of IAC (IAC) spinning off its Match Group (MTCH) and Angi Homeservices (ANGI) stakes and he thinks it could occur around Q3 earnings and be effective mid to late next year. The analyst estimates IAC standalone will emerge with a $5B equity value and could unlock another $3B in value at current levels. Blackledge reiterated his Outperform rating and $315 price target on IAC shares.
10/01/19
NEED
10/01/19
NO CHANGE
Target $11
NEED
Buy
Angi Homeservices price target lowered to $11 from $13 at Needham
Needham analyst Brad Erickson lowered his price target on Angi Homeservices to $11, saying the company's Nextdoor traffic deal looks like a "band-aid" amid "bleeding sentiment" and indications of more competitive pressure from Google (GOOGL) in the home services vertical. The analyst also lowers his FY20 EBITDA view to $251.6M from $258M on expectation of higher projected traffic spending, but keeps his Buy rating on the stock to reflect the continued strong monetization of HomeAdvisor.
IAC IAC
$225.23

-0.23 (-0.10%)

09/25/19
JEFF
09/25/19
NO CHANGE
Target $105
JEFF
Buy
Match Group fundamentals unchanged despite 23% pullback, says Jefferies
While shares of Match Group (MTCH) has pulled back 23% from the post-Q2 earnings report highs of $95, nothing has changed fundamentally, Jefferies analyst Brent Thill tells investors in a research note. The analyst says that while uncertainty around a potential IAC (IAC) distribution and the broader tech pullback is a headwind, he continues to believe Match is well positioned to take advantage of the industry tailwinds within online dating. The analyst, who sees "no red flags" in Q3 Tinder data, is a buyer of Match Group at current levels. He keeps a Buy rating on the shares with a $105 price target.
10/07/19
DBAB
10/07/19
UPGRADE
Target $91
DBAB
Buy
Deutsche upgrades Match Group to Buy on 'untarnished' fundamentals
Deutsche Bank analyst Kunal Madhukar upgraded Match Group (MTCH) to Buy from Hold with a price target of $91, down from $93. Despite a "strong" quarter and guidance raise, Match shares have been sinking since the company reported Q2 results, Madhukar tells investors in a research note. The analyst, while admitting there is potential for near-term trading dislocation and the specter of increased supply once IAC (IAC) decides to spin off Match, believes the stock has overacted to the downside from the launch of Facebook (FB) Dating and the Federal Trade Commission lawsuit against Match.com. Match Group's business fundamentals "remain untarnished," and if anything, are stronger after Tinder began offering consumers more payment choice on Android, Madhukar contends. Nomura Instinet this morning also upgraded Match Group. The stock in premarket trading is up 4%, or $3.17, to $77.60.
10/10/19
10/10/19
UPGRADE
Target $89

Outperform
Match Group upgraded to Outperform at Oppenheimer
As previously reported, Oppenheimer analyst Jason Helfstein upgraded Match Group (MTCH) to Outperform from Perform, with a price target of $89. The analyst notes that the stock is down 27% from its highs on an overall correction in momentum names, confusion surrounding a likely debt transfer as part ofthe spinoff from IAC (IAC) and concerns over the FTC lawsuit. Helfstein is now less concerned about competition from Facebook (FB) Dating, and highlights that 3P download data shows an acceleration in Tinder and localized offerings. Lastly, his survey work indicates that only 44% of U.S. singles are currently using an online dating product, suggesting material growth in overall usage.
MTCH Match Group
$75.93

0.07 (0.09%)

10/07/19
10/07/19
UPGRADE

Fly Intel: Top five analyst upgrades
Catch up on today's top five analyst upgrades with this list compiled by The Fly: 1. Match Group (MTCH) upgraded to Buy from Neutral at Nomura Instinet and to Buy from Hold at Deutsche Bank. 2. Uber (UBER) upgraded to Buy from Neutral at Citi with analyst Itay Michaeli saying the company's upcoming Q3 results should bring an acceleration in revenue growth and swing investment sentiment more favorably. 3. Arconic (ARNC) upgraded to Overweight from Neutral at JPMorgan with analyst Seth Seifman saying he sees a "compelling" risk/reward profile following the stock's 8% decline in the past two weeks. 4. JetBlue (JBLU) upgraded to Buy from Neutral at Buckingham with analyst Daniel McKenzie saying competitive capacity looks manageable at this point, but notes that his upgrade is likely "early," given IT initiatives that don't become material to revenue until the first quarter of 2020. 5. E-Trade (ETFC) and Moody's (MCO) upgraded to Buy from Neutral at UBS. This list is just a portion of The Fly's full analyst coverage. To see The Fly's full Street Research coverage, click here.
10/10/19
OPCO
10/10/19
UPGRADE
OPCO
Outperform
Match Group upgraded to Outperform from Perform at Oppenheimer

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SPY

SPDR S&P 500 ETF Trust

$298.89

2.88 (0.97%)

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$0.00

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$29.74

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$82.06

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RIO

Rio Tinto

$51.40

-0.43 (-0.83%)

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GNTX

Gentex

$26.98

0.65 (2.47%)

20:16
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VNE

Veoneer

$16.11

0.82 (5.36%)

20:16
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VC

Visteon

$82.45

0.63 (0.77%)

20:15
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  • 24

    Oct

DLPH

Delphi Technologies

$14.37

0.45 (3.23%)

20:14
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Initiation
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BWA

BorgWarner

$37.74

0.68 (1.83%)

20:13
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  • 31

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LEA

Lear

$121.75

3.94 (3.34%)

20:13
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  • 25

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DFIN

Donnelley Financial Solutions

$10.54

0.035 (0.33%)

20:12
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JNJ

Johnson & Johnson

$132.84

2.17 (1.66%)

, TEVA

Teva

$6.96

0.22 (3.26%)

19:17
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Periodicals
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JNJ

Johnson & Johnson

$132.84

2.17 (1.66%)

TEVA

Teva

$6.96

0.22 (3.26%)

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  • 15

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  • 07

    Nov

WAFD

Washington Federal

$36.81

0.15 (0.41%)

19:04
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Earnings
Washington Federal reports Q4 EPS 66c, consensus 65c »

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  • 06

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INGR

Ingredion

$81.17

0.94 (1.17%)

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  • 31

    Oct

SPX

S&P 500

$0.00

(0.00%)

, SPY

SPDR S&P 500 ETF Trust

$298.89

2.88 (0.97%)

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PBR

Petrobras

$14.40

0.02 (0.14%)

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  • 25

    Oct

SNBR

Sleep Number

$46.69

0.48 (1.04%)

, UAL

United Airlines

$87.90

0.9 (1.03%)

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UAL

United Airlines

$87.90

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MCK

McKesson

$138.17

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ABC

AmerisourceBergen

$83.18

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CAH

Cardinal Health

$47.93

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FULT

Fulton Financial

$15.90

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ETN

Eaton

$82.16

1.29 (1.60%)

SFIX

Stitch Fix

$20.83

-0.38 (-1.79%)

MGM

MGM Resorts

$27.87

-0.1 (-0.36%)

JBHT

J.B. Hunt

$111.65

1.985 (1.81%)

IBKR

Interactive Brokers

$47.43

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RYTM

Rhythm Pharmaceuticals

$20.90

0.52 (2.55%)

PRQR

ProQR Therapeutics

$6.21

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NTRA

Natera

$39.21

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PRNB

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X

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$11.43

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ARCE

Arco Platform

$48.15

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TW

Tradeweb Markets

$39.79

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KKR

KKR

$26.79

0.67 (2.57%)

, DB

Deutsche Bank

$7.79

0.235 (3.11%)

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KKR

KKR

$26.79

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DB

Deutsche Bank

$7.79

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TW

Tradeweb Markets

$39.79

-0.14 (-0.35%)

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  • 07

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TW

Tradeweb Markets

$39.79

-0.14 (-0.35%)

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Syndicate
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TW

Tradeweb Markets

$39.79

-0.14 (-0.35%)

18:16
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Earnings
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  • 07

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EDIT

Editas Medicine

$20.30

0.48 (2.42%)

18:15
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WYNN

Wynn Resorts

$114.78

2.43 (2.16%)

18:03
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18:03
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SFIX

Stitch Fix

$20.83

-0.38 (-1.79%)

18:00
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  • 22

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