IAC price target lowered to $57 from $61 at Truist

Truist lowered the firm’s price target on IAC (IAC) to $57 from $61 and keeps a Buy rating on the shares. The company’s “mixed” Q2 results and Q3 guide show that the management continues to make non- linear progress across its portfolio of assets, namely People Inc., Care, Search and E&O as it tries to reposition the business for sustainable growth, the analyst tells investors in a research note.