Fly News Breaks for August 12, 2019
IAC, ANGI, MTCH
Aug 12, 2019 | 08:46 EDT
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.
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