TREE - LendingTree's Growth in Insurance and SEM Advertising Positions for Multi-Year Cycle Says Analyst | Benzinga
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 ...