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Fly News Breaks for August 9, 2019
IAC, MTCH, ANGI
Aug 9, 2019 | 07:07 EDT
Credit Suisse analyst Stephen Ju raised his price target for InterActiveCorp (IAC) to $284 from $263 and maintained an Outperform rating following the company's second quarter results. Ju tells investors in a research note that his investment thesis is based on ongoing traction with Tinder monetization coupled with stabilization of legacy Match.com (MTCH) and OkCupid properties,continued realization of both platform and cost synergies at Angi Homeservices (ANGI) and optionality for incremental share gains for Vimeo among content producers as IAC looks to aggressively acquire new subscribers.
News For IAC;MTCH;ANGI From the Last 2 Days
MTCH, IAC
Sep 18, 2019 | 15:02 EDT
Match Group (MTCH) announced the appointment of Thomas Gaissmaier as Chief Human Resources Officer, effective September 30. Gaissmaier will be based in New York and responsible for leading Match Group's global Human Resources functions, including talent efforts, company culture, diversity and inclusion strategy and integration across Match Group's growing international portfolio. Gaissmaier joins Match Group from 21st Century Fox (FOX), where he was the Executive Vice President and Chief Human Resources Officer in charge of global talent practices and was critical in the integration planning for its merger with the Walt Disney Company (DIS).
ANGI, IAC, MTCH
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.
MTCH
Sep 17, 2019 | 10:17 EDT
Catch up on today's top five analyst initiations with this list compiled by The Fly: 1. Match Group (MTCH) initiated with a Buy at Citi. 2. Restaurant Brands (QSR) initiated with a Buy at Argus. 3. Orchard Therapeutics (ORTX) initiated with a Buy at Guggenheim. 4. Axonics (AXNX) initiated with an Outperform at SVB Leerink. 5. Cellular Biomedicine (CBMG) initiated with a Buy at BTIG. This list is just a portion of The Fly's analyst coverage. To see The Fly's full Street Research coverage, click here.
IAC
Sep 17, 2019 | 06:30 EDT
Citi analyst Nicholas Jones started IAC with a Buy rating and $290 price target. The analyst views Vimeo as IAC's most exciting holding, Dotdash as a strong cash generator, and its minority stake in Turo as an "interesting foray" into online autos.
ANGI
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.