Angi Inc. upgraded to Neutral from Sell at UBS

UBS analyst Kunal Madhukar upgraded Angi Inc. to Neutral from Sell with a price target of $2.75, up from $2.00. UBS is incrementally more positive after management disclosed that it is going "back to basics" with a focus on the directory-style listings for Ads & Leads and smaller, simpler, and repeatable jobs for Services that is likely to lead to better margins and higher free cash flow, the analyst tells investors in a research note. The firm expects the shares to remain range-bound until visibility into long-term growth and margins improves.