The sell-side quiet period is over for LendingClub Corporation LC, and this means that underwriting banks may now publish ratings, something that they weren’t able to do since the December 11 IPO.
Analysts firms were quite enthusiastic at first, as the stock returned 56 percent on its debut on the NYSE, hitting $23.43. The stock then peaked at $29.29, before plummeting to current prices around $22.
- Goldman Sachs initiated coverage with a Neutral rating and a $22 price target.
- BMO Capital issued an Outperform, accompanied by a $28 price target.
- Stifel gave the stock a Hold rating, but did not set a price target.
- Morgan Stanley assumed coverage at Equal-weight and a $22 target.
- Citigroup rated the stock at Neutral, with a $23 price target, although analysts made some positive remarks on the company and its consistent growth.
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Posted In: NewsPrice TargetInitiationAnalyst RatingsBMO CapitalCitigroupGoldman SachsMorgan StanleyStifel Nicolaus
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