LendingTree price target raised to $45 from $25 at Oppenheimer

Oppenheimer raised the firm’s price target on LendingTree to $45 from $25 and keeps an Outperform rating on the shares. LendingTree is a top small-cap pick into 2024 due to an improving Insurance segment, lower rates benefiting Consumer/Homes segments, and refinancing the 2025 Convertible before going current, the analyst tells investors in a research note. A better fundamental backdrop should increase free cash flow, allowing management to organically pay-down debt to its historical net-debt leverage target, the firm says.