LendingClub price target lowered to $14 from $17 at JPMorgan

JPMorgan lowered the firm’s price target on LendingClub (LC) to $14 from $17 and keeps a Neutral rating on the shares. The firm updated the company’s model to reflect the Q4 report. The Q4 results in the financial technology space were generally positive, as credit trends were stable and discretionary spend accelerated into January, but valuations across the group have reverted towards historic averages following a rate cut and election fueled rally to end the year, the analyst tells investors in a research note.