UPDATE: Stephens Starts Open Lending (LPRO) at Overweight

(updating comment)

Stephens analyst Vincent Caintic initiates coverage on Open Lending (NASDAQ: LPRO) with a Overweight rating, PT $33.00.

The analyst comments "While the stock has run significantly since becoming public this year, we see a large addressable market for Open Lending's unique credit insurance product. Splitting consumer auto loan risks into funding and credit, and then arbitraging the cheapest source of capital for both, allows Open Lending to address customers not well served by current auto lenders. We expect this will disrupt the traditional lending model and drive multiples of growth."

For an analyst ratings summary and ratings history on Open Lending click here. For more ratings news on Open Lending click here.

Shares of Open Lending closed at $27.61 yesterday.

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