RBC Capital Remains Bullish as LendingTree (TREE) Announces CompareCards.com Acquisition
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RBC Capital reiterated an Outperform rating on Lending Tree (NASDAQ: TREE), and raised the price target to $120.00 (from $110.00), following the company's announced acquisition of CompareCards.com. CompareCards.com was launched in 2005 and attracts >1.5MM consumers each month. RBC believes that this transaction will allow Credit Card revenue at TREE to sustain premium growth and increasingly gain share in this important category.
Analyst Mark Mahaney commented, "Last night, TREE announced it acquired CompareCards.com and hosted a call this morning. CompareCards provides TREE with greater scale, improved marketing/analytic capability and deeper relationships within the credit card segment, all of which should lead to sustained improvement in issuer payouts. Raising ests & PT to $120 (from $110)."
Shares of Lending Tree closed at $88.15 yesterday.
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Create E-mail Alert Related CategoriesAnalyst Comments, Mergers and Acquisitions
Related EntitiesRBC Capital, Definitive Agreement, Mark Mahaney
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