Match Group price target lowered to $70 from $74 at TD Cowen

TD Cowen analyst John Blackledge lowered the firm’s price target on Match Group to $70 from $74 and keeps an Outperform rating on the shares. The analyst said we adjusted our est’s to reflect recent management commentary and pricing changes at Tinder, and now expect RPP growth to outpace payer growth in 1H23.