UPDATE: BTIG Research Initiates Coverage on On Deck Capital with Buy Rating, $25 PT on Position for Outsize Growth

In a report published Tuesday, BTIG Research analyst Mark Palmer initiated coverage on

with a Buy rating and $25.00 price target. In the report, BTIG Research noted, “We are initiating coverage of OnDeck Capital (ONDK) with a BUY recommendation and a price target of $25 based on 25x our 2018E EBITDA of $102.6mm discounted back at 12%. We believe the pullback in the shares following their post-IPO surge has created an interesting buying opportunity.” On Deck Capital closed on Friday at $18.50.