Fly News Breaks for November 12, 2015
Nov 12, 2015 | 05:41 EDT
Piper Jaffray analyst Gene Munster expects the optimism around a near-term takeout of Angie's List (ANGI) to fade. IAC (IACI) last night announced a proposal to acquire Angie's for $8.75 per share, or a 10% premium to the stock's closing price. Angie's new CEO Scott Durchslag and board are committed to turning around the business before selling at a "compressed multiple," Munster told investors last night in a research note. He reiterates a Neutral rating on Angie's with a $6 price target. The stock rallied 11%, or 87c, to $8.79 in after-hours trading last night.
News For ANGI;IACI From the Last 2 Days
Sep 18, 2019 | 07:33 EDT
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.
Sep 17, 2019 | 06:28 EDT
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.