IAC price target lowered to $67 from $100 at Piper Sandler

Piper Sandler analyst Thomas Champion lowered the firm’s price target on IAC (IAC) to $67 from $100 and keeps an Overweight rating on the shares post the Q3 results. The company’s shareholder letter "again contained cautious overtones," with Joey Levin now CEO of both IAC and Angi Inc. (ANGI) and owning up for mis-execution, Champion tells investors in a research note. The October metrics were mixed, but IAC "remains a top operator that has thrived in past downturns," says the analyst.