Truist lowered the firm’s price target on Match Group (MTCH) to $34 from $35 and keeps a Hold rating on the shares. The firm is encouraged by the management’s ongoing efforts to re-ignite growth through new AI-powered products and features, and its on-going marketing initiatives, while committing to at least $1B in annual free cash flow generation over the next three years to fund buybacks and a new dividend, the analyst tells investors in a research note. Truist adds however that it remains on the sidelines awaiting better visibility into the turnaround at Tinder.
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