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Fly News Breaks for October 1, 2019
Oct 1, 2019 | 09:39 EDT
BTIG analyst Mark Palmer keeps his Buy rating and $30 price target on LendingClub after hosting its management in a non-deal roadshow. The analyst notes that the presentation included the company's plans for margin expansion, cost cutting efforts, and the ability to withstand an economic downturn. Palmer also contends that given LendingClub's strong loan origination and revenue growth with expanding margin justify a better valuation that its current 1.35-times enterprise value to expected FY20 revenue.
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