Angi Inc. downgraded to Neutral from Buy at Citi

Citi downgraded Angi Inc. (ANGI) to Neutral from Buy with a price target of $2, down from $3.25. While the company’s Q3 results “were fine” and IAC is exploring a spinout of its Angi stake, Angi’s turnaround continues to take longer than expected with its return to growth pushed to 2026, the analyst tells investors in a research note. While Citi believes it is likely IAC will spin out Angi to IAC shareholders, which could have a net positive impact, it looks for better visibility on the completion of Angi’s product enhancements and investments, “which has been complex and taken longer than initially expected.”