Wunderlich Securities Sees Potential Acquirers For Angie's List Inc

Dwight Einhorn

Fri, Oct 3, 2014, 8:18 AM

In a report published Friday, Wunderlich Securities analyst Blake T. Harper reiterated a Buy rating and $13.00 price target on Angie's List Inc (NASDAQ: ANGI).

In the report, Wunderlich Securities noted, “This week it was reported that Angie's List, Inc. (ANGI) hired an investment bank to explore strategic alternatives, including a potential sale of the business, which led the stock to rise 20% for the day. We believe a potential buyer could create substantial value from Angie's List's assets of user generated reviews, it's data on local service providers, and advertising relationships with 51,000 service providers. We also would expect potential acquirers to look to expand Angie's 2.8 million membership base by eliminating the paywall to create a larger marketplace for consumers and service providers. We believe there is still more value in the stock and a potential acquisition could get the stock to our $13 price target sooner, which represents 2x EV/S.”

Angie's List Inc closed on Thursday at $7.61.

Latest Ratings for ANGI

Oct 2014	Northland Securities	Upgrades	Underperform	Market Perform
Sep 2014	Cowen & Company	Initiates Coverage on		Market Perform
Jul 2014	Bank of America	Downgrades	Buy	Neutral

View More Analyst Ratings for ANGI
View the Latest Analyst Ratings

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Wunderlich Securities Sees Potential Acquirers For Angie's List Inc

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