Match Group price target lowered to $35 from $38 at Wells Fargo

Wells Fargo lowered the firm’s price target on Match Group to $35 from $38 and keeps an Equal Weight rating on the shares. The firm also lowers Q3/Q4 revenue on more conservative assumptions around Tinder ALC pace of improvement, and said it sees potential for Q4 guidance below consensus. Lower estimates vs. improved buy-side sentiment creates a tricky Q3 EPS setup, in Well’s view.