Match Group price target raised to $47 from $33 at RBC Capital

RBC Capital analyst Brad Erickson raised the firm’s price target on Match Group to $47 from $33 and keeps an Outperform rating on the shares. The company’s Q2 results was the best indication in nearly two years that Tinder can and may actually return to payer growth at some point – and thus, maybe not an asset approaching zero value, the analyst tells investors in a research note. Most positively, the management also gave crisper detail on product rollouts & lightening headwinds, which should help Tinder payer return to growth in 2025, RBC added.