JPMorgan analyst Reginald Smith downgraded LendingClub (LC) to Neutral from Overweight with a price target of $17, up from $14. The shares have caught up to peers, increasing nearly 200% over the last year, and now seem fairly priced, the analyst tells investors in a research note. The firm likes LendingClub’s road map but thinks it will take several quarters to materialize, and prefers names with more immediate growth and monetization opportunities.
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