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Fly News Breaks for November 22, 2019
TREE
Nov 22, 2019 | 07:11 EDT
JPMorgan analyst Melissa Wedel initiated coverage of LendingTree with an Overweight rating and $405 price target. The company has greatly diversified its revenue sources away from mortgage originations to include insurance, credit cards, personal loans, small business loans, and student loans, Wedel tells investors in a research note. The analyst believes the MyLendingTree platform is scaling and she expects it to drive increased revenue and profitability. She see a "long runway for growth" for LendingTree.
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