Barclays upgraded Match Group to Overweight from Equal Weight with an unchanged price target of $52. The shares have been a large underperformer year-to-date, dropping 15%, mainly due to concerns that Tinder payer growth has peaked, the analyst tells investors in a research note. At current levels, the firm sees limited downside and a "number of upside catalysts" from app optimizations, higher priced tiers, ad revenue, and reduced App Store fees.
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Published first on TheFly
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