TD Cowen analyst John Blackledge maintained a Buy rating on IAC/InteractiveCorp. today and set a price target of $66.00.
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John Blackledge has given his Buy rating due to a combination of factors tied to IAC’s strategic refocus and financial outlook. He views the planned rebranding to People Inc. and associated restructuring as a meaningful step toward concentrating on the core publishing and MGM assets, which should streamline operations and unlock value through $40 million in anticipated annual cost savings by early 2027.
He also incorporates the sale of Care.com and the updated cost structure into a refreshed sum‑of‑the‑parts valuation that now supports a higher price target of $66, up from $60 previously. In his view, the simplified business mix, solid balance sheet with substantial cash relative to debt, and remaining share repurchase authorization position the company to narrow its conglomerate discount and deliver attractive upside for shareholders over the medium term.
According to TipRanks, Blackledge is a 5-star analyst with an average return of 11.0% and a 53.77% success rate. Blackledge covers the Communication Services sector, focusing on stocks such as Netflix, Alphabet Class C, and Meta Platforms.
In another report released on April 29, Benchmark Co. also maintained a Buy rating on the stock with a $60.00 price target.