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LendingTree’s Growth in Insurance and SEM Advertising Positions for Multi-Year Cycle, Says Analyst

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Keefe, Bruyette & Woods analyst Ryan Tomasello upgraded LendingTree, Inc. (NASDAQ:TREE) from Market Perform to Outperform, raising the forecast to $45 from $24.

Per Tomasello, the 2024 earnings recovery for LendingTree is led by a rebound in the company’s insurance segment, where 2024 guidance could be conservative.

Going ahead, the analyst forecasts that insurance segment revenue/profit will surpass prior peaks this year (roughly 30-40% Y/Y growth) and continue double-digit growth in 2025.

The analyst highlighted an “increased conviction” in the company’s ability to efficiently address its convert maturity in 1H24. 

Longer-term, Tomasello sees the company addressing certain areas, including regaining market share in the …

Full story available on Benzinga.com

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