IAC price target raised to $51 from $41 at KeyBanc

KeyBanc raised the firm’s price target on IAC (IAC) to $51 from $41 and keeps an Overweight rating on the shares. The firm says IAC continues executing on its business simplification efforts, and the sale of Care.com reinforces there should be a positive value for the stub. While KeyBanc has lowered its People forecast to reflect a more conservative ad market forecast, it still sees upside from these levels from shareholder returns.