IAC price target lowered to $64 from $67 at Citi

Citi analyst Ygal Arounian lowered the firm’s price target on IAC to $64 from $67 and keeps a Buy rating on the shares ahead of the Q1 results. The analyst expects continued softness in key areas in Q1, particularly Dotdash Meredith digital ad revenue and Angi demand, but expects the quarter "to be the nadir for ad headwinds.’" The firm sees profitability improvements for IAC as Angi turns around.