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Fly News Breaks for May 8, 2019
LC
May 8, 2019 | 07:27 EDT
Wedbush analyst Henry Coffey upgraded LendingClub to Outperform from Neutral and raised his price target on the shares to $5 from $3.75. Reflecting "significant" gains across all fronts over the last 3 years, the company now operates with a more complex, more diversified source of loan buying/funding, a tighter focus around its primary credit niche, and a focus on operating efficiency that has it within eye sight of generating an adjusted EBITDA margin of 20% by the end of 2019, he contends. The analyst thinks adjusted EBTIDA margins will continue to grow and that the business will succeed at growing revenue at 12%-15% for a sustainable period per year.
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