UPDATE: Northland Capital Markets Upgrades Angie's List (ANGI) to Market Perform on Rumors It Held Talks with Buyers

(Updated - October 1, 2014 8:32 AM EDT)

Northland Capital Markets upgraded Angie's List (NASDAQ: ANGI) from Underperform to Market Perform. The change follow rumors yesterday that it held conversation with prospective buyers.

Commenting on developments, analyst Darren Aftahi said, "We are upgrading shares of ANGI from Underperform to Market Perform as the company potentially looks at strategic alternatives. While our bearish view of the fundamentals has not changed, at current levels we are more neutral on the stock. And, with a potential strategic move, and the large short interest, we are moving to a Market Perform rating."

"While ANGI may not go down the path of a sale, we believe if it did, the most logical strategic buyers would include Home Depot (NYSE: HD), Amazon (Nasdaq: AMZN), Google (Nasdaq: GOOG), and potentially IAC (Nasdaq: IACI) (and its HomeAdvisor division), among others. We also believe private equity could be interested," he added

For an analyst ratings summary and ratings history on Angie's List click here. For more ratings news on Angie's List click here.

Shares of Angie's List closed at $6.37 yesterday.

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