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Stifel Initiates Coverage On LendingClub

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LendingClub (NYSE: LC) was initiated at Hold on Tuesday at Stifel. The company IPO'd at $15 in December, closing above $23. The stock has since traded down to close Friday at $22.09. Stifel did not set a price target.

Stifel analyst Scott Devitt notes that the company is estimated to have originated $4 billion in loans in 2014, a fraction of the $1 trillion in U.S. unsecured consumer and small-business loans annually. However, Stifel identifies key issues that will determine its price movement: (1) the market size that fits Lending Club’s credit guidelines; (2) the macroeconomic atmosphere; (3) competition in the peer-to-peer lending space; and (4) international growth potential.

Latest Ratings for LC

Dec 2017Compass PointUpgradesSellNeutral
Nov 2017Canaccord GenuityMaintainsBuy
Nov 2017OppenheimerMaintainsOutperform

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Posted-In: Scott Devitt StifelInitiation Analyst Ratings


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