Shares of Match Group (MTCH - Get Report) were rising Tuesday after analysts at Citigroup initiated coverage of the stock with a buy rating and $95 price target, calling the company's international opportunity "compelling."
The price target represents a potential 24% upside from the stock's previous closing price Monday of $76.61. The stock was up 3.4% to $79.22 in trading Tuesday.
Analyst Nicholas Jones said the company's international opportunity isn't currently reflected in Match Group's stock price as user perception improves and the world becomes more internet-connected.
"In 2Q19, for the first time, MTCH saw its subscriber count in international markets surpass its North America subscriber base. Accordingly, we believe there is more upside than is currently reflected in the stock price," Jones wrote. "Key risks include its ability to continue to acquire or innovate to keep up with consumer preferences, FB taking share, and performance in an economic downturn."