LendingClub price target raised to $10.75 from $7.75 at Seaport Research

Seaport Research raised the firm’s price target on LendingClub to $10.75 from $7.75 and keeps a Buy rating on the shares. The analyst increased estimates to reflect greater stability in the company’s fundamental outlook and expectations LendingClub will continue to target a marginal level of profitability until the macroeconomic outlook improves. The introduction of the structured certificate program last year has increased investor demand for its loans and allowed the company to incrementally expand loan origination volume in a capital light manner, the analyst tells investors in a research note.