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IAC

IAC

$220.83

8.25 (3.88%)

, ANGI

Angi Homeservices

$7.87

1.4 (21.64%)

07:30
11/08/19
11/08
07:30
11/08/19
07:30

Benchmark trims IAC price target to $285, says still a top internet pick

Benchmark analyst Daniel Kurnos said IAC (IAC) posted a solid quarter, with "the real story" being how Angi Homeservices (ANGI) "finally saw an end to their search woes at a time when several other categories are seeing major Google headaches." Though Match (MTCH) has taken some "punishment" for a soft Q4 and 2020 margin outlook, Kurnos said he continues to view IAC as one of his top internet picks. He maintains a Buy rating on IAC shares, though he lowered his price target on the stock to $285 from $300.

IAC

IAC

$220.83

8.25 (3.88%)

ANGI

Angi Homeservices

$7.87

1.4 (21.64%)

MTCH

Match Group

$69.69

2.67 (3.98%)

  • 09

    Dec

IAC IAC
$220.83

8.25 (3.88%)

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.
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
FBCO
11/08/19
NO CHANGE
Target $256
FBCO
Outperform
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.
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.
ANGI Angi Homeservices
$7.87

1.4 (21.64%)

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.
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.
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.
MTCH Match Group
$69.69

2.67 (3.98%)

11/07/19
JEFF
11/07/19
NO CHANGE
Target $80
JEFF
Buy
Match Group price target lowered to $80 from $105 at Jefferies
Jefferies analyst Brent Thill lowered his price target for Match Group to $80 from $105 and keeps a Buy rating on the shares following the company's Q3 results. The stock may remain range-bound in the near-term as Match works through short-term headwinds and potential spin pressure, Thill tells investors in a post-earnings research note. However, he sees no change to the company's fundamentals, and noes the initial 2020 sales guidance "signals continued core strength."
11/07/19
11/07/19
UPGRADE

Fly Intel: Top five analyst upgrades
Catch up on today's top five analyst upgrades with this list compiled by The Fly: 1. Regeneron (REGN) upgraded to Buy from Neutral at Citi with analyst Mohit Bansal saying the Libtayo data in 2020 and continuous Dupixent growth will make it easy to keep owning Regeneron shares through near-term Eylea competition. 2. Match Group (MTCH) upgraded to Buy from Neutral at UBS with analyst Eric Sheridan saying Match shares experience a post-earnings selloff yesterday after already being notably down since August on the back of the Facebook (FB) Dating launch and legal proceedings. 3. Sealed Air (SEE) upgraded to Sector Weight from Underweight at KeyBanc with analyst Adam Josephson saying shares have underperformed the S&P 500 by 1,400 bps since its downgrade on July 14. 4. Elanco (ELAN) upgraded to Overweight from Equal Weight at Morgan Stanley with analyst David Risinger saying the current valuation on the stock discounts investor concerns regarding the impact on its swine products from African Swine Fever and competitive threats, noting that his rating change reflects an opportunity on the stock following the recent pullback in price. 5. DexCom (DXCM) upgraded to Buy from Neutral at Guggenheim. This list is just a portion of The Fly's full analyst coverage. To see The Fly's full Street Research coverage, click here.
11/07/19
NOMU
11/07/19
NO CHANGE
Target $81
NOMU
Buy
Match Group price target lowered to $81 from $88 at Nomura Instinet
Nomura Instinet analyst Mark Kelley lowered his price target for Match Group to $81 from $88 saying the company's legal expenses are clouding its positive trends. The analyst, however, keeps a Buy rating on the shares following Match's Q3 results.

TODAY'S FREE FLY STORIES

FITB

Fifth Third

$30.24

0.365 (1.22%)

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$43.83

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STML

Stemline

$10.33

0.5 (5.09%)

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GSK

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$45.51

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GOL

Gol Linhas

$17.39

1.07 (6.56%)

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NAVB

Navidea

$0.97

0.07 (7.78%)

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EFC

Ellington Financial

$18.22

0.09 (0.50%)

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BOOT

Boot Barn

$41.93

0.81 (1.97%)

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ERIC

Ericsson

$9.24

0.1 (1.09%)

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GLD

SPDR Gold Shares

$137.59

-1.42 (-1.02%)

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SPDR Gold Shares holdings fall to 886.23MT from 888.57MT »

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PICO

PICO Holdings

$10.81

0.31 (2.95%)

17:45
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PICO Holdings sells long-term storage credits for $8.7M in Arizona »

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QHC

Quorum Health

$0.95

0.0522 (5.81%)

17:31
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Quorum Health receives NYSE continued listing standard notice »

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SPRT

Support.com

$1.94

0.01 (0.52%)

17:30
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Breaking Hot Stocks news story on Support.com »

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BXRX

Baudax Bio

$6.69

0.34 (5.35%)

17:29
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Breaking Syndicate news story on Baudax Bio »

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  • 16

    Dec

LMT

Lockheed Martin

$387.10

1.175 (0.30%)

17:25
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Lockheed Martin awarded $153.39M Navy contract modification »

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ENV

Envestnet

$71.72

1.27 (1.80%)

17:23
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Breaking Syndicate news story on Envestnet »

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NOC

Northrop Grumman

$344.79

0.4 (0.12%)

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SPRT

Support.com

$1.94

0.01 (0.52%)

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SPRT

Support.com

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RZLT

Rezolute

$0.00

(0.00%)

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AMZN

Amazon.com

$1,750.79

10.2 (0.59%)

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MGTA

Magenta Therapeutics

$13.29

0.3 (2.31%)

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IMH

IMPAC Mortgage

$5.63

-0.01 (-0.18%)

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ALEC

Alector

$19.74

0.33 (1.70%)

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ATAX

America First Multifamily Investors

$7.58

0.125 (1.68%)

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PNM

PNM Resources

$48.77

-0.06 (-0.12%)

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