LendingClub price target raised to $28 from $15 at BTIG

BTIG raised the firm’s price target on LendingClub (LC) to $28 from $15 and keeps a Buy rating on the shares. The firm replaced Upbound (UPBD) with LendingClub as its top pick first half of 2025 pick. BTIG expects fintechs “to occupy much of the debate in 2025.” Near-term, the firm thinks significant volume growth will drive shares higher, aided by expectations of strong operating income margins once these businesses scale. However, the analyst worries that demand is coming from private credit funds that “may prove fickle if consumer credit performance deteriorates further.” BTIG also thinks the fintech industry is loosening credit to fulfill investor demand for consumer loans, which may result in poor performance in future quarters.