IAC price target lowered to $100 from $105 at Benchmark

Benchmark lowered the firm’s price target on IAC (IAC) to $100 from $105 and keeps a Buy rating on the shares. Investors “appeared to be placated” by commentary around a focus on internal reinvestment, along with the clear statement that buybacks are “once again on the table,” but the “specter of M&A still lingers” and it will likely still take some time after the Angi Inc (ANGI) spinoff for Dotdash to “finally get the multiple it deserves,” the analyst tells investors after earnings.