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Fly News Breaks for December 14, 2017
TREE
Dec 14, 2017 | 09:19 EDT
Needham analyst Kerry Rice raised his price target on Lending Tree to $375 after the company's better than consensus FY18 revenue guidance in yesterday's investor meeting. Rice says his expectations of "modest mortgage revenue growth of 10%-15%" could prove to be conservative based on historical precedent, while Credit Cards segment growth of 35% could also prove to be a major revenue driver. Rice keeps his Buy rating on LendingTree, citing the company's investment in new products, hiring in data analytics, and marketing/sales initiatives.
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