Angi, 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 $27.00 price target.
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Daniel Kurnos has given his Buy rating due to a combination of factors that suggest potential upside for Angi’s stock. He notes that while the company’s recovery narrative is contingent on growth in proprietary service requests and leads, Angi’s brand name and market position could allow it to become a leading aggregator over time. Kurnos also observes that a slightly challenging economic environment might benefit Angi, as service professionals may seek additional volume under such conditions.
Despite the current challenges with paid search and the impact of Google’s updates, Kurnos believes that the risk/reward profile is skewed positively, given that the market has not priced in much recovery. He acknowledges the skepticism among investors but points out that the upcoming quarters could provide proof of Angi’s potential for growth. While he has adjusted forecasts to account for potential inconsistencies in recovery, he remains optimistic about Angi’s long-term trajectory.