KeyBanc lowered the firm’s price target on IAC (IAC) to $45 from $49 and keeps an Overweight rating on the shares. The firm sees more modest profitability growth in 2026 as IAC works toward ramping People Inc. and Care.com. Early results of diversifying the traffic base at People suggest AI is not a material headwind to the business, but KeyBanc acknowledges it may take time for investors to get comfortable around this and unit economics. Positively, the firm believes IAC is well positioned with its balance sheet to invest in the core and pursue new opportunities.
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