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LendingClub downgraded to Neutral from Buy at Janney Montgomery Scott

Janney Montgomery Scott analyst John Rowan downgraded LendingClub to Neutral from Buy with a $10 fair value estimate following the company’s Q4 report. While there "was not really a surprise" with the Q4 results, management "communicated a different story for 2023 and drastically narrowed" its guidance due to a lack of earnings visibility, the analyst tells investors in a research note.

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