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IAC

IAC

$220.83

8.25 (3.88%)

, ANGI

Angi Homeservices

$7.87

1.4 (21.64%)

07:10
11/08/19
11/08
07:10
11/08/19
07:10

IAC price target lowered to $256 from $284 at Credit Suisse

Credit Suisse analyst Stephen Ju lowered his price target for IAC (IAC) to $256 from $284 following the company's Q3 results, saying the highlight of the quarter was the better-than-expected growth in IAC's Angi Homeservices (ANGI) segment as headwinds in its paid search channel stabilized and the shift towards fixed price services drove improved traffic conversion and order frequency. The analyst keeps an Outperform rating on the shares.

IAC

IAC

$220.83

8.25 (3.88%)

ANGI

Angi Homeservices

$7.87

1.4 (21.64%)

  • 09

    Dec

IAC IAC
$220.83

8.25 (3.88%)

10/11/19
JEFF
10/11/19
NO CHANGE
Target $300
JEFF
Buy
IAC losing its 'A+ student' in Match Group spinoff, says Jefferies
IAC's (IAC) separation proposal from Match Group (MTCH) is not a surprise, but investors want to know what this ultimately means for both companies, Jefferies analyst Brent Thill tells investors in a research note. IAC is losing its "A+ student" and will attempt to highlight its other assets while reviving the "wounded" Angi Homeservices (ANGI) business, contends Thill. Meanwhile, he believes Match's freedom will come at a cost, noting its leverage will likely head towards initial public offering levels. Post the spin, the analyst estimates the remaining IAC portfolio will be a low double-digit revenue grower with low double-digit margins. IAC has historically underperformed the market from the time of a spin announcement to spin completion, says Thill. The analyst, who has a Buy rating on IAC with a $300 price target, adds that's he a buyer of Match shares on weakness. The stock may see pressure in the near-term as over 200M shares will come to market, but the fundamental story "remains one of the best in Internet," contends Thill. Shares of Match are down 3% to $74.07 in afternoon trading while IAC is up 1.5% to 228.35.
11/06/19
JEFF
11/06/19
NO CHANGE
Target $105
JEFF
Buy
Match Group shares will find floor around $52, says Jefferies
Jefferies analyst Brent Thill expects shares of Match Group (MTCH) to find a floor around $52, which implies one-times EBITDA growth. The shares in premarket trading are down 11% to $61.03. However, the stock has a chance to recover it's multiple over time between a range of $74 to $90 based on 2020 EBITDA estimates, Thill tells investors in a post-earnings research note titled "Didn't Find Love in 3Q." History has said to buy the pullback, but this situation is challenging given the upcoming IAC (IAC) distribution and potential technical pressure on the stock, contends the analyst. He keeps a Buy rating on the shares with a $105 price target.
11/07/19
RHCO
11/07/19
NO CHANGE
Target $96
RHCO
Buy
Match Group price target lowered to $96 from $106 at SunTrust
SunTrust analyst Youssef Squali lowered his price target on Match Group (MTCH) to $96 but kept his Buy rating after its Q3 results. The analyst notes that the quarter saw "accelerating growth at Tinder and resumption of positive growth in non-Timber brands", but the stock was volatile afterhours given the light Q4 and FY20 guidance on higher legal fees/investments as well as the news that the Board is reviewing a separation proposal from its major stakeholder IAC (IAC).
11/08/19
JPMS
11/08/19
DOWNGRADE
Target $245
JPMS
Neutral
IAC downgraded to Neutral from Overweight at JPMorgan
JPMorgan analyst Doug Anmuth downgraded IAC to Neutral from Overweight with a $245 price target.
ANGI Angi Homeservices
$7.87

1.4 (21.64%)

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.
10/11/19
BNCH
10/11/19
NO CHANGE
BNCH
Buy
IAC still has material value to unlock after Match spin decision, says Benchmark
After IAC (IAC) announced that the company has proposed a full spinoff of Match (MTCH), Benchmark analyst Daniel Kurnos said this was the decision he had viewed as the likeliest outcome of the strategic spin review. Though the company is opting not to spin off ANGI Homeservices (ANGI), he thinks it should also experience some "modest, sustained flow-through benefits" and said IAC will have more "firepower to support the brand." The analyst, who still sees material value to unlock for IAC, keeps a Buy rating on its shares and does not have ratings on Match Group or ANGI shares.

TODAY'S FREE FLY STORIES

MNK

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STOK

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EPZM

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SQ

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CSIQ

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$3.24

0.065 (2.05%)

MT

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$17.88

0.43 (2.46%)

NUE

Nucor

$57.60

1.13 (2.00%)

STLD

Steel Dynamics

$35.10

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TMST

TimkenSteel

$6.90

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$13.95

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AA

Alcoa

$20.60

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FATE

Fate Therapeutics

$13.64

0.07 (0.52%)

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  • 07

    Dec

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Conference/Events
JPMorgan enterprise software analyst to hold an analyst/industry conference call »

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CRVS

Corvus Pharmaceuticals

$4.26

-0.36 (-7.79%)

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KPTI

Karyopharm

$16.30

-1.15 (-6.59%)

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  • 07

    Dec

ABBV

AbbVie

$86.97

0.3 (0.35%)

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  • 07

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SRRA

Sierra Oncology

$0.49

0.1035 (27.13%)

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  • 07

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SGMO

Sangamo

$11.65

0.05 (0.43%)

, PFE

Pfizer

$38.29

0.26 (0.68%)

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$11.65

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PFE

Pfizer

$38.29

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VSTM

Verastem

$1.31

0.055 (4.38%)

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  • 07

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RHHBY

Roche

$0.00

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XENE

Xenon Pharmaceuticals

$13.92

0.03 (0.22%)

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XENE

Xenon Pharmaceuticals

$13.92

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BMRN

BioMarin

$79.90

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  • 07

    Dec

CLF

Cleveland-Cliffs

$8.14

0.2 (2.52%)

, AKS

AK Steel

$3.24

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Cleveland-Cliffs

$8.14

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$3.24

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M

Macy's

$15.15

0.04 (0.26%)

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COF

Capital One

$101.39

1.8 (1.81%)

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  • 26

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EXPE

Expedia

$107.58

1.9 (1.80%)

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  • 09

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DAR

Darling Ingredients

$24.05

0.39 (1.65%)

, CODI

Compass Diversified

$23.88

0.45 (1.92%)

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DAR

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$24.05

0.39 (1.65%)

CODI

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$23.88

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QLYS

Qualys

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LECO

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HASI

Hannon Armstrong

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  • 10

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CBMG

Cellular Biomedicine

$17.56

0.18 (1.04%)

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  • 07

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AXLA

Axcella

$3.63

-0.83 (-18.61%)

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AZN

AstraZeneca

$47.68

0.06 (0.13%)

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ABBV

AbbVie

$86.97

0.3 (0.35%)

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  • 07

    Dec

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