UPDATE: BTIG Research Initiates Coverage on Lending Club Corp. with Buy Rating, $19 PT on Position for Sustained Strong Growth

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

with a Buy rating and $19.00 price target. In the report, BTIG Research noted, “We believe LC should be able to sustain the rapid pace of revenue growth it has exhibited during the past few years as it expands its platform from prime-based installment loans to other areas of the consumer and small business loan space in the U.S. and, eventually, in international markets. As such, we think LC should be able to increase its adjusted EBITDA to $530.9mm by FY18. (It posted $15.2mm of adjusted EBITDA in FY13.).” Lending Club Corp. closed on Wednesday at $15.00.