IAC price target lowered to $64 from $70 at JMP Securities

JMP Securities analyst Nicholas Jones lowered the firm’s price target on IAC (IAC) to $64 from $70 and keeps an Outperform rating on the shares. IAC Inc. reported solid Q4 results, with revenue beating consensus and adjusted EBITDA finishing largely in line with the Street’s expectations, and while full-year guidance was mixed, it was possibly better than feared, the analyst tells investors in a research note. The firm does not view the results or guidance as thesis-changing.