Match Group price target lowered to $30 from $31 at Citi

Citi analyst Ygal Arounian lowered the firm’s price target on Match Group (MTCH) to $30 from $31 and keeps a Neutral rating on the shares post the Q1 report. While headline reported numbers suggest a beat and better Q2 and the fiscal year guidance was maintained, excluding incremental currency tailwinds the Q2 guidance is more in line and fiscal year towards the lower end of the range, the analyst tells investors in a research note. Citi says Match’s results benefited from a material positive swing in currency rates.