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Piper Jaffray initiated Angie's List
ANGI with an Overweight rating and a $25.00 price target.
Piper Jaffray noted, "We are initiating coverage with an Overweight rating and a $25 target. Our Overweight rating is based on our belief in revenue and earnings upside. In 2015, we estimate Angie's List will grow revenue at 34% vs. the Street at 25%, and generate $74m in EBITDA vs. Street at $58m. Our $25 target is based on 19x our FY15 EV/EBITDA estimate."
Angie's List closed at $17.93 on Wednesday.
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