Bumble initiated with a Buy at BofA

BofA analyst Nat Schindler initiated coverage of Bumble with a Buy rating and $29 price target, calling it a "highly regarded brand in an ultra-competitive industry." The U.S.-based parent company owns online dating apps Bumble, Badoo, and Fruitz and its namesake app is "one of the top three dating apps in the world by revenue, possesses high ratings and NPS scores, and has further room for expansion," Schindler tells investors.