ANGI Homeservices Inc. shares rose 5.3% in Wednesday trading after the company was upgraded to buy from neutral at MKM Partners due to the opportunity in the home services sector. ANGI Homeservices’ portfolio includes Angie’s List, HomeAdvisor and HomeStars. “The home services sector is one of the largest opportunities still relatively untouched by internet platforms and we think that a digital marketplace will become a primary source of business origination over time,” wrote analyst Rob Sanderson in a note. “If management can deliver on its post-merger targets, we think the company could be worth $13 billion to $16 billion by 2022, a 2.3X to 2.8X increase from current valuation.” The merger with HomeAdvisor and Angie’s List took place in September. ANGI shares up nearly 48% for the last 12 months while the S&P 500 index has rise nearly 20% for the period.
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