Morgan Stanley raised the firm’s price target on Match Group (MTCH) to $95 from $90 and keeps an Overweight rating on the shares, which the firm also reiterates as a "Top Pick." The firm continues to have confidence in Tinder’s ability to reaccelerate to mid-teens revenue growth and remains bullish on the industry’s long-term structural drivers of revenue growth. The firm has raised its long-term U.S. revenue growth forecasts and price targets for both Match and peer Bumble (BMBL) 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."
Published first on TheFly
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