Jefferies Starts Lending Club (LC) at Buy, 'Lots of Catalysts to Expand ROE'

Jefferies analyst John Hecht initiates coverage on Lending Club (NYSE: LC) with a Buy rating and a price target of $13.50.

The analyst comments "We are initiating coverage of LendingClub (LC) with a BUY rating and PT of $13.50. LC is an early mover in the Fintech space with a deep operating history, bank charter, and a tech-enabled lending platform. We believe ROE will likely bottom in mid '23 and provide several catalysts herein that should lead to a higher ROE and valuation. Further, we point to competitive advantages tied to the bank charter as well as a diversified growth strategy going forward."

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

Shares of Lending Club closed at $9.64 yesterday.

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