Match stock rises after Jefferies upgrades back to buy


Shares of Match Group Inc.
MTCH, +1.59%
are up 2.4% in premarket trading after Jefferies analyst Brent Thill upgraded the stock back to buy, roughly a month after Facebook Inc.’s
FB, +0.49%
announcement of its own dating product prompted Thill to cut his rating on Match shares to hold. “Although we don’t anticipate the FB feature to launch until mid-summer, we are upgrading now because our research points to a minimal long-term impact,” wrote Thill, who raised his price target to $50 from $40. He said that Facebook may have trouble as it tries to create a single product to appeal to all daters. “We believe that the portfolio approach is a big advantage for Match, enabling them to target different demographics and needs,” Thill wrote. Match shares are up 125% over the past 12 months, while the S&P 500
SPX, +0.31%
has gained 14%.

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