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Fly News Breaks for January 24, 2018
TREE
Jan 24, 2018 | 06:21 EDT
As reported earlier, SunTrust analyst Youssef Squali initiated LendingTree with a Hold rating and a price target of $360. The analyst notes that after quadrupling in price in the past 12 months, the current valuation on the stock already reflects the company's momentum that had exceeded the management's expectations. Squali warns that a rise in interest rates could reduce lending demand, but expects LendingTree's better leads and diversified portfolio to sustain above-industry growth.
News For TREE From the Last 2 Days
TREE
Mar 27, 2024 | 16:18 EDT
LendingTree has secured up to $175M in financing in the form of a first lien term loan facility from funds managed by Apollo affiliates. LendingTree intends to draw $125M of the facility upon funding while the remainder will be available as a delayed draw during the following 12 months. The funds will be used for general corporate purposes, which may include repayment of existing debt.