LendingClub upgraded to Outperform from Market Perform at Keefe Bruyette

Keefe Bruyette upgraded LendingClub to Outperform from Market Perform with a price target of $15, up from $11.50. The shares have rebounded nearly 130% since the October 2023 trough as rate increases moderated, inflation cooled down, delinquency metrics turned a corner, and management successfully executed on delivering new products, the analyst tells investors in a research note. The firm says “the party is far from over” as LendingClub has positioned itself to “benefit from several tailwinds that should deliver meaningful catalysts to earnings and the stock.” Keefe believes lower rates and a better macro environment “should be about to turn the party up a few notches,” resulting in positive earnings revisions.