IAC/InteractiveCorp. (IAC – Research Report), the Communication Services sector company, was revisited by a Wall Street analyst today. Analyst Daniel Kurnos from Benchmark Co. maintained a Buy rating on the stock and has a $105.00 price target.
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Daniel Kurnos has given his Buy rating due to a combination of factors involving IAC/InteractiveCorp.’s potential for growth and strategic opportunities. The upcoming conference call with the company’s architect is expected to provide clarity on future plans, particularly regarding mergers and acquisitions, which could positively influence investor sentiment. Despite some investor uncertainty and challenges faced by its subsidiary Angi, Kurnos believes that IAC’s core business remains undervalued, and there are opportunities for growth and improved margins, particularly with initiatives such as Dotdash’s off-platform expansion and potential AI licensing deals.
Additionally, while there are concerns around the retail sector and performance acceleration, Kurnos remains optimistic about the incremental margins and pricing runway, suggesting that there is potential for positive developments in the near future. The breakout of Care.com and its impact on valuation, along with Angi’s strategic shifts, present further opportunities for growth. Overall, the combination of these factors contributes to Kurnos’s confidence in maintaining a Buy rating for IAC.
Kurnos covers the Communication Services sector, focusing on stocks such as IAC/InteractiveCorp., Cineverse, and Roku. According to TipRanks, Kurnos has an average return of 3.4% and a 47.49% success rate on recommended stocks.
In another report released on February 4, Citi also reiterated a Buy rating on the stock with a $58.00 price target.