IAC price target raised to $120 from $108 at Credit Suisse

Credit Suisse analyst Yoni Yadgaran raised the firm’s price target on IAC to $120 from $108 and keeps an Outperform rating on the shares following quarterly results. The firm notes that digital advertising continues to be challenged and Dotdash is not immune – the second half of 2023 continues to be positioned for growth while the first half of the year will likely decline 7% year-over-year. That said, product investments earmarked for faster site speeds, lower ad load and improved content quality has produced stable traffic flow following declines for much of 2022, Credit Suisse says.