Match Group price target lowered to $36 from $39 at Stifel

Stifel lowered the firm’s price target on Match Group (MTCH) to $36 from $39 and keeps a Hold rating on the shares. While the firm thought the company’s inaugural investor day outlining the company’s strategic priorities and medium-term financial outlook was “a thorough presentation that offered plenty of initiatives for Bulls to remain optimistic about a better story to tell from here,” it adds that updated Q4 guidance with an incremental $15M forex headwind means reported figures are likely to fall below the provided guidance range. Additionally, the shareholder returns story continues, with a new dividend and $1.5B buyback, though the firm believes the growth outlook through 2027 was “a bit lighter than many had hoped.”