Angi Inc (ANGI): ANGI stock hits 2.5-year high as J.P. Mo...

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John-Knee

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Tuesday, 02/09/2021 7:45:09 AM

Tuesday, February 09, 2021 7:45:09 AM

ANGI stock hits 2.5-year high as J.P. Morgan sets Street-high price target

Feb. 08, 2021 11:52 AM ETANGI Homeservices Inc. (ANGI)By: Jason Aycock, SA News Editor

ANGI Homeservices (NASDAQ:ANGI) is up 8.7% and has hit a multi-year high today after drawing a Street-high price target from J.P. Morgan following last week's revenue gains.

"Improving top-line growth driven by fixed price and what we believe is a strong product pipeline" are set to shift the narrative away from supply challenges among service professionals, it says.

It now sees full-year revenue growing at a 13% clip, with incremental gains on a quarterly basis through0out the year.

The firm has a price target of $20, implying another 13% upside beyond today's gains.
Shares today reached their highest point since mid-October 2018.

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