Investors are swiping right on Tinder, OkCupid and Match.com owner Match Holdings (MTCH) , even as the Department of Justice is swiping left, amid expectations among analysts that the company is still on track to post strong earnings and profits -- despite a grand jury subpoena from the DoJ in connection with a Federal Trade Commission lawsuit against it.
Investors lit a match under Match Group after Nomura Instinet analyst Mark Kelley upgraded his recommendation on the shares and raised his 12-month price target, following in the footsteps of other analysts, even as the FTC alleges that Match.com promoted what it knew to be fake profiles to lure potential subscribers.
Kelley's upgrade follows other analysts who note that Match Group users are aware of the existence of spam accounts and that the negative headlines will have only a limited impact on consumer interest in online dating, and in turn the company's financial performance.
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