LendingTree price target raised to $40 from $35 at Oppenheimer

Oppenheimer analyst Jed Kelly raised the firm’s price target on LendingTree to $40 from $35 and keeps an Outperform rating on the shares. The firm notes LendingTree issued initial 2023 EBITDA guidance of $85M-$95M, below the Street’s $96M, reflecting a gradual improvement in Insurance, Consumer inflecting positively post Q1, and Homes remaining depressed. Oppenheimer believes VMM margins are on better footing, and outside a significant consumer recession, high-end of EBITDA guidance appears achievable.