Match Group price target raised to $50 from $48 at KeyBanc

KeyBanc raised the firm’s price target on Match Group to $50 from $48 and keeps an Overweight rating on the shares. The firm expects Match to remain a polarizing stock as investors weigh ongoing Payer declines and tough second half of the year comps against product and pricing initiatives, gross margin catalysts, and an activist. While KeyBanc is still cautious on second half of 2024 comparable sales, it believes improved execution can position the company back toward a high single-digit percentage revenue growth profile with improving margins over the medium term.