Citizens JMP analyst Matthew Condon lowered the firm’s price target on IAC (IAC) to $47 from $64 and keeps an Outperform rating on the shares after assuming coverage of the name. Citizens sees multiple upcoming catalysts for IAC across Dotdash Meredith and Care.com that are underappreciated by the market and have the potential to meaningfully inflect results, the analyst tells investors in a research note. The firm continues to view IAC’s consistent track record of incubating businesses and creating shareholder value as a key pillar of its investment thesis.
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Read More on IAC:
- IAC upgraded to Buy from Hold at Spin-Off Research
- IAC Refinances Loans and Establishes New Credit Facility
- Hold Rating Maintained for IAC/InteractiveCorp Amid Strategic Uncertainty and Valuation Challenges
- Angi Inc. price target lowered to $20 from $24 at UBS
- IAC price target lowered to $61 from $76 at Truist
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