Angi Inc. price target lowered to $3 from $5 at Piper Sandler

Piper Sandler analyst Thomas Champion lowered the firm’s price target on Angi Inc. to $3 from $5 and keeps a Neutral rating on the shares after the company reported Q3 revenue that was below expectations, though he notes that EBITDA was slightly better than expected. The Angi rebrand "appears to have been more costly than expected," said Champion, who cites an increased discount rate to reflect "greater operational challenges" for his price target cut.