BTIG Remains Positive on LendingClub (LC) Following Q3 Results, New Financing Agreement
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BTIG affirms LendingClub (NYSE: LC) with a Buy rating and $9 price target following Q3 results and new financing agreement announced earlier Monday.
Analyst Mark Palmer commented today,
While investor skepticism about the ability of LendingClub Corporation (LC) to rebound from the scandal involving misallocated loans that resulted in the resignation of CEO Renaud Laplanche on May 9 persists, as reflected in short interest north of 20% of the stock’s float, the company this morning posted 3Q16 results that demonstrated progress in its efforts at revitalization.
We believe the value proposition offered by LC’s core business to both borrowers and investors remains intact.
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