IAC price target lowered to $72 from $81 at KeyBanc

KeyBanc lowered the firm’s price target on IAC to $72 from $81 and keeps an Overweight rating on the shares ahead of quarterly results to reflect a more gradual revenue and profit ramp. While the firm does not expect to see IAC’s segments completely stabilize on this call, it does expect to hear optimism on Dotdash Meredith into 2024, and more progress in rightsizing Angi.