UBS analyst Kunal Madhukar initiated coverage of IAC (IAC) with a Sell rating and $46 price target. The analyst cites below-consensus FY23 expectations for IAC investment in Angi (ANGI) given challenging model, deteriorating macro, and decelerating home spend, along with a limited scope to unlock value via spin-offs over the near-term.
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Published first on TheFly
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