Lending Club (LC) PT Raised to 'Street High' $20.50 at Wedbush

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%."

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