TD Cowen analyst John Blackledge lowered the firm’s price target on Match Group to $63 from $66 and keeps an Outperform rating on the shares. The firm’s downside Tinder scenario analysis suggests a 24% share upside from current levels if Tinder’s revenue grows 7% annually versus the firm’s current 10% compound annual growth rate estimates from 2023-2032. The firm forecasts accelerating topline growth through the rest of 2023, which will be driven by Tinder and continued momentum at Hinge. TD Cowen slightly lowered its FY27-FY32 estimates to reflect slower Other Brands, excluding Hinge, growth.
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