Oppenheimer Sticks to Its Buy Rating for Lendingtree Inc (TREE)

In a report released today, Jed Kelly from Oppenheimer maintained a Buy rating on Lendingtree Inc (TREE), with a price target of $300. The company’s shares closed yesterday at $250.31.

Kelly said:

“The key message from TREE’s analyst day is the company is accelerating the marketing of its greater product diversification and MyLT to drive mid-to-high-teens organic EBITDA growth through a difficult mortgage backdrop. Initial ’19E EBITDA guidance, (5% below the Street), implies mortgages growing in 2H19, but macro softness limits both visibility, and assessing the degree of conservatism, in our view. We see cross-selling cards into MyLT offering the largest near-term growth opportunity. The difficult operating environment in mortgages is driving a high degree of product innovation, where we expect RULO to eventually generate meaningful share gains, although not currently implied in our medium-term estimates. Adjusting PT to $300 from $320; Maintain Outperform.”

Kelly has an average return of 17.5% when recommending Lendingtree Inc.

According to TipRanks.com, Kelly is ranked #1654 out of 5124 analysts.

Currently, the analyst consensus on Lendingtree Inc is a Moderate Buy with an average price target of $293.60.

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The company has a one-year high of $404.40 and a one-year low of $183.25. Currently, Lendingtree Inc has an average volume of 245.8K.

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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.

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