Lending Tree (TREE) PT Lowered to $275 at Needham & Company
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Needham & Company analyst Mayank Tandon lowered the price target on Lending Tree (NASDAQ: TREE) to $275.00 (from $300.00) while maintaining a Buy rating.
The analyst commented, "TREE posted solid 2Q results, beating consensus estimates on both the top and the bottom line as trends in the consumer segment continue to improve and the low rate environment/increasing lender competition continues to serve as a tailwind for mortgage revenue and profitability. Given the improving fundamentals and strong secular trends driving consumer shopping for financial products using digital channels, we believe that TREE is making steady progress towards returning to a post-pandemic growth trajectory of 15-20% while steadily expanding margins. We are reiterating our BUY rating but trimming our price target to $275 to reflect lower valuations for financial marketplace stocks."
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