IAC price target lowered to $45 from $60 at JPMorgan

JPMorgan lowered the firm’s price target on IAC (IAC) to $45 from $60 and keeps an Overweight rating on the shares. Ahead of Q1 earnings, the firm reduced estimates, multiples, and price targets for most Smid-cap internet and video game companies to reflect macro and tariff uncertainty. The analyst cut revenue estimates up to 5%, with the largest revisions to names that face direct tariff and macro risk.