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Fly News Breaks for February 7, 2020
Feb 7, 2020 | 06:44 EDT
Credit Suisse analyst Stephen Ju raised his price target for InterActiveCorp (IAC) to $283 from $256 and keeps an Outperform rating on the shares following the company's Q4 results. Ju tells investors in a research note that the highlight this quarter was the continued strength in IAC's Dotdash segment, offset by larger than expected declines in the Desktop Applications business. The analyst sees ongoing traction with Tinder monetization coupled with stabilization of legacy (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.
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