Bumble price target raised to $8 from $6 at Citi

Citi raised the firm’s price target on Bumble (BMBL) to $8 from $6 and keeps a Neutral rating on the shares. While Bumble delivered “good enough” Q3 results and Q4 guidance, its strategic initiatives are still early, and real visibility is limited as to when and how successful they will be, the analyst tells investors in a research note. The firm is encouraged to see management executing early but notes secular headwinds remain challenging to the online dating sector overall.