Loading...
Loading...
In a report published Thursday, Needham analyst Kerry Rice maintained a Buy rating on
Lendingtree IncTREE, while raising the price target from $70 to $84.
According to the Needham report, "Lending Tree is evolving into a financial products marketplace that provides consumers with tools and the ability to comparison shop in order to save money and provides lenders with consistent consumer volume."
Revenue at the company's Mortgage segment is expected to come in in-line with the expectations in 2Q15, driven by higher interest rates. The analyst also believes that there is upside potential, with LendingTree's Local Introduction and the recently launched call center products gaining traction across the large traditional banks.
In addition, the Personal Loans segment is expected to continue to be the company's "primary engine of growth," witnessing sequential growth through each month of the quarter.
"We believe Tree's new products, scale, and technology innovations should lift conversions across its financial product categories," Rice stated, while raising the estimate for the company to reflect the favorable impact of higher conversions on revenue and EBITDA.
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
date | ticker | name | Price Target | Upside/Downside | Recommendation | Firm |
---|
Benzinga simplifies the market for smarter investing
Trade confidently with insights and alerts from analyst ratings, free reports and breaking news that affects the stocks you care about.
Join Now: Free!
Already a member?Sign in