LendingTree price target lowered to $17 from $36 at Susquehanna

Susquehanna analyst James Friedman lowered the firm’s price target on LendingTree to $17 from $36 and keeps a Neutral rating on the shares. The analyst saidt the deterioration in Consumer’s 2023 guide is worse than we had expected albeit due in part to the discontinuation of Ovation. Although we are cutting estimates sharply, we are encouraged the company proactively cut costs to 2019 levels.