LendingClub Downgraded On Risk Management, Stock TanksMark Melin
LendingClub has been pumped up and expectations are the stock price is getting ahead of reality, indicates a new analyst call.
Such is the general message behind a Sterne Agee downgrade of LendingClub. The firm announced today it was initiating a underperform rating with a $17.75 price target. In early morning trade LendingClub is trading at $21.37, down nearly 7 percent on the day.
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