Benchmark analyst Daniel Kurnos lowered the firm’s price target on Angi Inc. (ANGI) to $6 from $7 and keeps a Buy rating on the shares after IAC (IAC) announced the contemplation of an Angi spin in order to unlock value for core IAC. The firm says it “knew that sentiment and investor faith in Angi were on shaky enough ground heading into the print,” though it thought the recent run of EBITDA beats made it feel “like a floor had been established.” However, “that floor was promptly crashed through” when management laid out their growth expectations through 2026 in broad terms, the analyst tells investors. At $2 a share though, and near the lows for the year, along with extremely negative sentiment, it “would not take much to pop the stock back into the $2.50 range,” the analyst added.
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Read More on ANGI:
- IAC price target lowered to $105 from $110 at Benchmark
- IAC assumed with a Buy at Jefferies
- IAC price target lowered to $80 from $88 at Truist
- IAC price target lowered to $77 from $82 at TD Cowen
- Angi Inc. price target lowered to $3 from $3.25 at JMP Securities
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