LendingClub price target lowered to $12 from $15 at Maxim

Maxim lowered the firm’s price target on LendingClub to $12 from $15 but keeps a Buy rating on the shares. The company’s Q3 results were aided by non-recurring items with revenue slightly above the top end of pre-announced results, but there is also concern about a more challenging and “evolving” macroeconomic environment in the near term, the analyst tells investors in a research note.