In a research report published Monday, BTIG analyst Mark Palmer reiterated a Buy rating on shares of LendingClub Corp (NYSE:LC) with a price target of $9.00, after the company announced the launch of an auto refinance product that gives car owners a simple solution to save money on their auto loans.

Palmer noted, “We think the company’s announcement on October 25 that it had launched a new auto loan refinancing product in California with plans to expand nationally in early 2017 indicated that management believed that they had achieved a sufficient level of stabilization to push forward with the new initiative.”

“A divergence has occurred recently between the signals coming from LendingClub Corporation (LC) management about their confidence that the company’s operations have stabilized and the performance of its stock. Management has spoken confidently about large investors’ return to its marketplace platform as they continue to put the scandal involving misallocated loans that resulted in the resignation of CEO Renaud Laplanche on May 9,” the analyst added.

As usual, we recommend taking analyst notes with a grain of salt. According to TipRanks, which measures analysts’ and bloggers’ success rate based on how their calls perform, analyst Mark Palmer has a yearly average return of 3.3% and a 49% success rate. Palmer has a 38.3% average return when recommending LC, and is ranked #3794 out of 4178 analysts.

Out of the 17 analysts polled by TipRanks, 2 rate Lendingclub stock a Buy, 13 rate the stock a Hold and 2 recommend Sell. With a return potential of 14.1%, the stock’s consensus target price stands at $5.61.