IAC downgraded to Market Perform from Outperform at BMO Capital - InvestingChannel

IAC downgraded to Market Perform from Outperform at BMO Capital

BMO Capital analyst Daniel Salmon downgraded IAC to Market Perform from Outperform with a price target of $175, up from $165. The analyst cites valuation for the downgrade following the stock’s recent outperformance. Yesterday’s confirmation of an initial public offering for Vimeo was expected and the shares now better embed Vimeo’s “attractive investor profile,” Salmon tells investors in a research note.