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Fly News Breaks for December 23, 2019
Dec 23, 2019 | 07:29 EDT
As previously reported, Wedbush analyst Ygel Arounian initiated coverage of Match Group (MTCH) with a Neutral rating and $80 price target. The analyst notes that Match Group is in the process of fully spinning out from IAC (IAC), which will lead to a "meaningful" change in capital structure as Match Group will absorb $1.7B of IAC exchangeables, raise debt and use cash on hand to issue an $850M dividend to shareholders, and retire 6% of shares in the process. In return Match gets an elimination of its dual share class voting structure, materially enhances its shares' liquidity and float, and increases its own strategic flexibility, he adds. Aside from the spin, we view Match Group's market opportunity and associated risks as balanced, particularly in light of premium valuation.
News For MTCH;IAC From the Last 2 Days
Jan 14, 2021 | 07:37 EST
Cowen analyst John Blackledge raised the firm's price target on Match Group to $175 from $145 and keeps an Outperform rating on the shares. The analyst expects strong Q4 results with revenue growth near the high end of guidance, led by Tinder and Non-Tinder brands.
Jan 14, 2021 | 07:15 EST
Deutsche Bank analyst Kunal Madhukar raised the firm's price target on IAC to $230 from $165 and keeps a Buy rating on the shares. The company's December monthly update came in better than expected across the broad, Madhukar tells investors in a research note.