Truist lowered the firm’s price target on LendingTree to $24 from $26 but keeps a Buy rating on the shares. The company’s mixed Q3 results and guidance reflect the effects of rising rates and tightening credit rather than structural issues, and while this trend is likely to persist through the first half of FY24, LendingTree has aggressively adjusted its cost structure to protect margins and free cash flow, the analyst tells investors in a research note.
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Read More on TREE:
- LendingTree price target lowered to $15 from $23 at Susquehanna
- LendingTree price target lowered to $20 from $24 at Northland
- LendingTree cuts FY23 revenue view to $670M-$680M from $680M-$700M
- LendingTree sees Q4 revenue $132M-$142M, consensus $144.74M
- LendingTree reports Q3 adjusted EPS 61c, consensus 35c
