IAC price target lowered to $65 from $70 at Oppenheimer

Oppenheimer analyst Jason Helfstein lowered the firm’s price target on IAC to $65 from $70 and keeps an Outperform rating on the shares as Q3 largely in line and same story as Q2. The firm notes the company lowered 2023 consolidated EBITDA guidance, now 5%/10% below Opco/Street.