The Fly

IAC price target lowered to $80 from $124 at Cowen

Cowen analyst John Blackledge lowered the firm’s price target on IAC to $80 from $124 and keeps an Outperform rating on the shares. The analyst said underlying trends are softer given various macro headwinds with 3Q DDM pro forma Digital ad revenue and Search biz revenue declining in 3Q per disclosed monthly metrics.

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