JPMorgan downgraded Match Group (MTCH) to Neutral from Overweight with a price target of $33, down from $40. Global online dating spend remained stagnant in 2024, and JPMorgan expects “muted growth” to persist in 2025, the analyst tells investors in a research note. The firm’s newly updated global online dating model projects industry growth of 1% in 2024 and 0% in 2025. It believes product-driven turnarounds take time, with artificial intelligence product enhancements limited to date. Match is still early in its efforts to reinvigorate user growth, contends JPMorgan.
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