Match Group price target raised to $38 from $34 at UBS

UBS raised the firm’s price target on Match Group (MTCH) to $38 from $34 and keeps a Neutral rating on the shares. Match Group reported better-than-expected Q1 results and Q2 guidance, driven by early signs of stabilization in Tinder metrics, slower MAU declines, improving retention, and modest payer trend improvement, supporting an increasingly constructive but still cautious view of the product-led turnaround given ongoing investment spending and mixed regional pressure, the analyst tells investors in a research note.