Angie's List pullback a buying opportunity, says Piper Jaffray

theflyonthewall.com

Piper Jaffray attributes the recent pullback in shares of Angie's List to concerns around the CTO departure and declining analyst estimates. However, Piper expects Angie's to report in-line September quarter results and says the CTO departure was driven by the company taking steps to better align its platform for the future. The firm keeps an Overweight rating on the stock with a $30 price target.

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