Piper Sandler analyst Matt Farrell noted that Bloomberg reports that Apple (AAPL) is working to open its platform to comply with upcoming regulations in the EU by looking to allow alternative app stores for iPhones and iPads. While the regulatory dynamics are not "new news," Apple appearing interested in complying with these requirements is "the needle mover" and this news should be a potential tailwind for companies like Match Group (MTCH), said Farrell. The analyst, who notes that Match shares are up about 7% following the "positive" news, has an Overweight rating and $70 price target on Match shares.
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Published first on TheFly
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