Here are the biggest calls on Wall Street on Thursday
UBS upgraded the operator of online dating sites and said it thinks the valuation represents a "compelling" risk/reward.
"We believe the LT fundamental drivers remain intact: a) the moat around Tinder is widening; b) efficient allocation of marketing dollars across a family of brands to produce operating leverage & outsized returns; & c)mgmt remains top notch in terms of capital allocation across its own equity, new brand/product launches & potential M&A.
"While bulls will continue to point to a potential return to the >15% GAAP OI margins achieved in FY18 as an opportunity, in our view, 2018 represented a period of unsustainably high margins; last year,reaped the benefits of a period of sustained underinvestment. This underinvestment, in our view, played a key role in causing the "bugs" that resulted in last quarter's surprise revenue miss.
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