IAC price target lowered to $44 from $54 at Piper Sandler

Piper Sandler lowered the firm’s price target on IAC (IAC) to $44 from $54 and keeps a Neutral rating on the shares. The firm notes IAC reported decent results, with Q1 revenues in line with its forecast but EBITDA better. Management comments suggest resilience despite macro uncertainty. Piper thought management tone sounded better, and it liked the recent buyback.