IAC/InterActiveCorp up, JPM resumes coverage with 'overweight'

Angi

03/01/2022 17:03

** Shares of internet media co  IAC.O  up as much as 3.8% at
$135.78 
    ** J.P. Morgan resumes coverage on stock with "overweight";
sets PT of $175
    ** Says, IAC's business portfolio looks very different than
it did entering 2021, with Vimeo spin & Meredith acquisition
closed 
    ** "Following a significant portfolio transformation in
2021, we believe execution is critical in 2022 with a focus on
Angi Services, Angi rebrand, & Meredith integration" - Brokerage
    ** Adds, IAC has a strong track record of creating
shareholder value
    ** Avg. rating of 15 analysts is "buy"; median PT is $180.50
- Refinitiv data
    ** Stock had gained nearly 4% last year

 (Reporting by Tiyashi Datta in Bengaluru)
 ((tiyashi.datta@thomsonreuters.com))