Morgan Stanley came away from Tinder’s first-ever product event the “most constructive” the firm has been Match Group (MTCH) shares in multiple years. Match is seeing “faster product innovation and budding green shoots,” the analyst tells investors in a research note. Morgan Stanley says Tinder is “finally starting to evolve the product.” Sparks coverage and user growth are showing continued improvement, contends the firm. It believes that if Match’s product usage translates to monthly active user acceleration, the shares can re-rate over the next few quarters. Morgan Stanley has an Equal Weight rating on Match Group with a $35 price target The stock in morning trading is up 2% to $30.73.
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