Mizuho Securities Raises Price Target on LendingTree (TREE) to $122
- Donald Trump Sworn in as 45th U.S. President
- Wall Street ends higher as Trump becomes president
- Walgreens Boots Alliance (WBA) Said to Face Antitrust Concern for Rite Aid (RAD) Fix - Bloomberg
- Bristol-Myers Squibb (BMY) Says It Won't Pursue Accelerated U.S. Regulatory Pathway for Opdivo Plus Yervoy in Lung Cancer
- Apple (AAPL) Sues Qualcomm (QCOM) Over Patent Royalties in Antitrust Case - Bloomberg
Get the Pulse of the Market with StreetInsider.com's Pulse Picks. Get your Free Trial here.
Mizuho Securities reiterated a Buy rating on Lending Tree (NASDAQ: TREE), and raised the price target to $122.00 (from $102.00), following CompareCards opportunity. Mizuho estimates that CompareCards could provide ~15%-20% incremental revenue and EBITDA to TREE.
Analyst Neil Doshi commented, "After pondering over the CompareCards opportunity, we decided to take a preliminary stab at updating our model for the CompareCards acquisition. We estimate that CompareCards should be margin accretive and should add an incremental $79m in revenue and $15m in EBITDA in 2017. As such, we are raising our target price from $102 to $122 as we flow our CompareCards estimates through our existing TREE model. We remain buyers of TREE and view the company's first Investor Day on December 13 as a potential catalyst for the stock."
Shares of Lending Tree closed at $100.00 yesterday.
Serious News for Serious Traders! Try StreetInsider.com Premium Free!
You May Also Be Interested In
- M&T Bank (MTB) PT Raised to $165 at FBR Capital Following 4Q Beat
- Instinet (Nomura) Downgrades Silicon Motion Technology (SIMO) to Neutral
- UPDATE: SunTrust Robinson Humphrey Downgrades Simon Property Group (SPG) to Hold
Create E-mail Alert Related CategoriesAnalyst Comments, Analyst EPS Change, Analyst PT Change
Related EntitiesDefinitive Agreement
Sign up for StreetInsider Free!
Receive full access to all new and archived articles, unlimited portfolio tracking, e-mail alerts, custom newswires and RSS feeds - and more!