NerdWallet price target lowered to $13 from $14 at Morgan Stanley

Morgan Stanley analyst James Faucette lowered the firm’s price target on NerdWallet to $13 from $14 and keeps an Equal Weight rating on the shares. NerdWallet’s diversification and higher income user base has provided relative insulation from rapidly accelerating delinquencies at card issuers with greater subprime skews, but the firm notes that delinquencies have begun to rise at prime-skewed names and it thinks that credit deterioration and/or a slower pace of new account origination are likely over the near-term.