IAC price target raised to $70 from $68 at KeyBanc

KeyBanc raised the firm’s price target on IAC (IAC) to $70 from $68 and keeps an Overweight rating on the shares. After taking a “back to basics” approach toward its portfolio in 2023, the firm expects IAC will be shifting back to growth across its assets and Angi (ANGI). KeyBanc views this return to growth as more of a second half of the year event as both Angi and Dotdash Meredith, the two largest segments, are still in recovery.