Angi Inc (ANGI)

[roger wilco]

ANGI price target raised on H2 outperformance

Jul. 17, 2020 8:28 AM ET
|About: ANGI Homeservices Inc. (ANGI)
|By: Brandy Betz, SA News Editor

Seeing the potential for "material revenue out-performance in the back half of the year," Benchmark raises its ANGI Homeservices (NASDAQ:ANGI) target from $12 to $18 (18% upside) and maintains a Buy rating.

Analyst Daniel Kurnos cites positive usage trends, optimism around the mobile payments offering, and further expansion of the fixed-price initiative.

Kurnos raises his 2020 revenue estimate by about $160M to $1.463B (consensus: $1.45B) due to Q2 strength and a "less gloomy view of the world" in H2.

ANGI shares are up 2% pre-market to $15.56.

Related: Yesterday, ANGI parent IAC said the business hit bottom in March and then quickly bounced back.