Oppenheimer analyst Jed Kelly maintained a Buy rating on Lendingtree Inc (TREE) today and set a price target of $350. The company’s shares opened today at $300.22.
Kelly commented:
“Consistent with our 4Q preview (here), TREE raised ’19 guidance on the ValuePenguin acquisition (80% insurance), while maintaining its initial outlook from 12/2 Investor Day. We are more comfortable on beat-and-raise potential compared to ’18 on an improving mortage backdrop and insurance scaling through TREE’s marketing platform. See mortgages potentially re-accelerating to top line growth in 2H:18 representing next catalyst. Monitoring decelerating Credit Cards revenue (+4% y/y vs. 3Q’s 8%); and guidance assumes CompareCards branding and MLT integration accelerates the segment’s revenue. Expecting some investor push- back on acquisitions generating large portion of growth, but believe that view underappreciates platform’s ability to scale single-vertical players. Risk to our near- term bullish view is greater deceleration in Personal Loans. Maintain Outperform; $350 PT.”
Kelly has an average return of 29.2% when recommending Lendingtree Inc.
According to TipRanks.com, Kelly is ranked #1242 out of 5203 analysts.
The word on The Street in general, suggests a Moderate Buy analyst consensus rating for Lendingtree Inc with a $283.83 average price target, implying a -5.5% downside from current levels. In a report released today, Northland Securities also assigned a Buy rating to the stock with a $273 price target.
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Lendingtree Inc’s market cap is currently $4.15B and has a P/E ratio of 50.48. The company has a Price to Book ratio of 11.04.
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LendingTree, Inc. engages in the operation of online loan marketplace for consumers seeking loans and other credit-based offerings. It provides mortgage loans, home equity, reverse mortgage, auto loans, credit cards, personal loans, student loans, and small business loans.
