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TREE - LendingTree cut to Underperform as margins under pressure
LendingTree Inc.
Northland Securities analyst Michael Grondahl downgrades LendingTree (TREE) to Underperform from Market Perform as the company's non-mortgage businesses fell 58% in Q4 2020.Sees softer adjusted EBITDA margins in Q1 due to continued investments and increased competition.Lack of full-year guidance also plays into Grondahl's downgrade.TREE edges down 0.1% in premarket trading after falling 15% in regular trading on Thursday in the wake of its Q4 earnings report.