BWS Financial Raises Price Target on LendingTree (TREE) Following Compare Cards Acquisition
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BWS Financial reiterated a Buy rating on Lending Tree (NASDAQ: TREE), and raised the price target to $125.00 (from $110.00), as the company announced its acquisition of Compare Cards for $130 million. With the deal closed, TREE would now generate over 50 percent of its revenue from non-mortgage.
Analyst Hamed Khorsand commented, "LendingTree (TREE) is acquiring Compare Cards for $130 million in an effort to expand the Company’s reach with credit cards. The acquisition would enable TREE to have greater traction within a non-mortgage category that hit a legal bump earlier in the year."
Shares of Lending Tree closed at $93.20 yesterday.
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Create E-mail Alert Related CategoriesAnalyst Comments, Analyst EPS Change, Analyst PT Change, Mergers and Acquisitions
Related EntitiesBWS Financial, Definitive Agreement
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