Bumble price target raised to $21 from $20 at Morgan Stanley

Morgan Stanley analyst Lauren Schenk raised the firm’s price target on Bumble (BMBL) to $21 from $20 and keeps an Equal Weight rating on the shares. The firm remains bullish on the industry’s long-term structural drivers of revenue growth and has raised its long-term U.S. revenue growth forecasts and price targets for both Bumble and peer Match Group (MTCH) given its increased confidence in the durability of U.S. online dating industry growth as its bottom-up macro model suggests the industry is "far from saturated."