IAC price target lowered to $69 from $71 at Citi

Citi analyst Ygal Arounian lowered the firm’s price target on IAC to $69 from $71 and keeps a Buy rating on the shares. The company reported “mixed” Q2 results as revenue underdelivered from continued headwinds to Angi’s revamp, the analyst tells investors in a research note. However, Citi says IAC’s portfolio and capital allocation strategy leaves “upside optionality.”