Shares of Angi Inc (ANGI) are soaring 5.26% in pre-market trading on Thursday, following two significant analyst target price upgrades. The stock's upward momentum reflects growing optimism about the company's future prospects among Wall Street analysts.
RBC Capital Markets has raised its price target on Angi from $17 to $20, while maintaining a Sector Perform rating on the stock. This adjustment represents a notable 17.6% increase in their valuation of the company. Additionally, Truist Securities has taken an even more bullish stance, hiking their target price on Angi from $25 to $28, a 12% increase.
These upgrades come amid a generally positive sentiment towards Angi among analysts. According to FactSet, the average rating for Angi stock is overweight, with a mean price target of $22.88. The recent target price increases from RBC and Truist Securities suggest that some analysts see even greater potential in the stock than the current consensus estimate. Investors appear to be reacting positively to these upgrades, as reflected in the pre-market stock movement.
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