Goldman Sachs analyst Eric Sheridan downgraded Angi Inc. (ANGI) to Neutral from Buy with a price target of $2.50, down from $3.25, post the Q3 report. IAC is considering spinning off its 85% ownership stake in Angi to IAC shareholders and Angi is still undergoing an operational turnaround with revenue declining over 15% year-over-year in Q3, the analyst tells investors in a research note. The firm downgraded Angi as it lowered operating estimates and sees a more balanced risk/reward in the equity given the lower visibility on a return to positive revenue growth.
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