Open Lending price target lowered to $7 from $8 at Needham

Needham lowered the firm’s price target on Open Lending to $7 from $8 but keeps a Buy rating on the shares. The company’s Q2 outlook was mixed as the interest rate and consumer finance environment remains challenging, but its fundamentals are showing signs of stabilization and are poised to quickly bounce back when lending volumes improve, the analyst tells investors in a research note.