Compass Point raised the firm’s price target on LendingClub (LC) to $19 from $15 and keeps a Buy rating on the shares after the company reported Q3 EPS at 13c, “well above” the firm’s 4c estimate and the consensus estimate at 7c. The analyst believes “it’s worth noting” that LendingClub is beginning to inflect higher with improving loan sale pricing, banks returning to buying loans, improving funding costs, improving credit trends and a growing balance sheet that should lead to an acceleration in earnings growth over the next few quarters.
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
Read More on LC:
- Boeing union rejects latest offer, Tesla reports Q3 beat: Morning Buzz
- LendingClub price target raised to $15 from $14.50 at Seaport Research
- LendingClub price target raised to $17 from $14 at Wedbush
- LendingClub price target raised to $15 from $13 at Piper Sandler
- Closing Bell Movers: Tesla gains 12% as Q3 earnings beat estimates