Stephens analyst John Campbell lowered his revenue assumptions for LendingTree based on the company's new 2020 guidance, but said he sees "plenty of conservatism" baked into a few of the company's product growth trajectories, particularly Insurance. He also lowered his EBITDA estimate based on the company's guidance, but added that his new 2021 estimates call for accelerating growth and adjusted EBITDA margin expansion as he thinks heightened 2020 brand spending will yield better growth at higher margins. The analyst, who thinks the "low bar" set to start 2020 puts beat and raise potential in place, keeps an Overweight rating on LendingTree but trimmed his price target on the shares to $450 from $465.