FMP
Lending Club Started With Buy Rating
Jun 16, 2023 2:13 PM - Davit Kirakosyan(Last modified: Dec 19, 2023 6:49 PM)
Image credit: FMP
Jefferies initiated coverage on Lending Club (NYSE:LC) with a Buy rating and a price target of $13.50, noting that the company is a pioneer in the Fintech sector with a strong track record, bank charter, and a technologically advanced lending platform.
The analysts anticipate an improvement in ROE by mid-2023, offering various catalysts for increased ROE and valuation. Additionally, the analysts highlighted competitive advantages related to the bank charter and a well-diversified growth strategy.
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