BTIG lowered the firm’s price target on LendingClub to $53 from $58 and keeps a Buy rating on the shares after its Q2 results. The analyst cites the company’s pre-provision net revenue guide topping consensus by 7% and its originations topping consensus by 6%. The firm is also incrementally positive on LendingClub’s better margins as higher credit investor interest is showing up in LendingClub’s pricing power.
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