Mizuho Securities Raises Price Target on LendingTree (TREE) to $122

Mizuho Securities reiterated a Buy rating on Lending Tree (NASDAQ: TREE), and raised the price target to $122.00 (from $102.00), following CompareCards opportunity. Mizuho estimates that CompareCards could provide ~15%-20% incremental revenue and EBITDA to TREE.

Analyst Neil Doshi commented, "After pondering over the CompareCards opportunity, we decided to take a preliminary stab at updating our model for the CompareCards acquisition. We estimate that CompareCards should be margin accretive and should add an incremental $79m in revenue and $15m in EBITDA in 2017. As such, we are raising our target price from $102 to $122 as we flow our CompareCards estimates through our existing TREE model. We remain buyers of TREE and view the company's first Investor Day on December 13 as a potential catalyst for the stock."

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

Shares of Lending Tree closed at $100.00 yesterday.

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