LendingTree (TREE): Notes From The Road - Needham
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Needham & Company analyst, Kerry Rice, reiterated his Buy rating on shares of Lending Tree (NASDAQ: TREE) after hosting investor meetings with LendingTree CFO Gabe Dalporto and VP of Finance/IR Trent Ziegler.
In Mortgage, the analyst believes the current high loan volumes should reset the demand bar higher for lenders, driving incremental revenue to LendingTree as interest rates rise.
In Personal Loans, revenue is expected to rebound in 3Q16 as more sustainable, diversified funding sources address ongoing strong consumer demand.
In Credit Cards, the ramp in revenue has moderated due to recent litigation, but the negative impact should pass by year-end and growth across channels should accelerate 2017 revenue.
No change to the $140 PT.
Shares of Lending Tree closed at $93.19 yesterday.
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