UPDATE: Morgan Stanley Reiterates Equal-Weight Rating, Raises PT on LendingClub Corp as Expectations May Have Been Too High

In a report published Wednesday, Morgan Stanley analyst Smittipon Srethapramote reiterated an Equal-Weight rating on LendingClub Corp LC, and raised the price target from $22.00 to $23.00. In the report, Morgan Stanley noted, "LC delivered solid results and gave 2015 guidance that was above our expectations. But bulls may have been overly optimistic about near-term growth potential heading into the print. Remain EW." LendingClub Corp closed on Tuesday at $23.65.