Wells Fargo lowered the firm’s price target on Match Group (MTCH) to $33 from $35 and keeps an Equal Weight rating on the shares. The firm says that ongoing product testing is weighing on near-term revenue growth, while cost saving initiatives are driving upside to EBITDA margin expectations. Net/net, 2026/2027 EBITDA estimates unchanged. Wells is still awaiting signs of Tinder MAU / payer growth inflection.
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