Lending Club (LC) PT Raised to 'Street High' $20.50 at Wedbush
- Wall Street closes lower as virus spike hits travel stocks
- Netflix (NFLX) Tops Q1 EPS by 78c, Subs Miss
- Kansas City Southern (KSU) Soars as Bidding War Brews After Canadian National Railway (CNI) Makes a $33.7 Billion Offer
- Analysts Positive, Raise PTs as IBM (IBM) Tops Market Estimates and Reaffirms Guidance
- Boeing (BA) Down 3% After CFO - Aged 54 - Retires, Seen as an 'Odd' Move
News and research before you hear about it on CNBC and others. Claim your 1-week free trial to StreetInsider Premium here.
Wedbush analyst Henry Coffey raised the price target on Lending Club (NYSE: LC) to $20.50 (from $14.00) while maintaining an Outperform rating.
The analyst commented, "In setting a new price target for LC, we are shifting our valuation perspective to 2025 estimated earnings, but sticking to valuation ratios that are, relative to the P/Es accorded the likes of its more immediate peers, UPST and SoFi (pending SPAC merger with IPOE), overtly conservative. Reflecting our analysis, we are increasing our price target from $14 to $20.50. To put all this in perspective, we are estimating a future 2025 share value that is noticeably above market, and then discounting it back to get to our price target using discount rate of 18-20%."
Serious News for Serious Traders! Try StreetInsider.com Premium Free!
You May Also Be Interested In
- CN (CNI) Confirms 'Superior' $325/Share Bid for Kansas City Southern (KSU)
- Ten Entertainment Group Plc. (TEG:LN) PT Raised to GBP3.25 at Berenberg
- Premier Financial (PFC) Tops Q1 EPS by 34c
Create E-mail Alert Related CategoriesAnalyst Comments, Analyst PT Change
Related EntitiesEarnings, Definitive Agreement, IPO, SPAC
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!