LendingTree price target raised to $55 from $45 at Oppenheimer

Oppenheimer analyst Jed Kelly raised the firm’s price target on LendingTree to $55 from $45 and keeps an Outperform rating on the shares after management raised 2024 revenue guidance 5% on Insurance accelerating and the Consumer segment seeing better traffic cadence from lenders’ underwriting stabilizing. The firm believes management has the best visibility into guidance in years on the combination of Insurance marketing being early in a multi-year growth cycle, right sizing the cost structure, and interest rates plateauing.