Morgan Stanley Thinks LendingClub Corp’s Stock is Going to Recover

By Carrie Williams

LendingClub Corp (NYSE: LC) received a Buy rating from Morgan Stanley analyst James Faucette today. The company’s shares closed yesterday at $4.81, close to its 52-week low of $3.44.

According to TipRanks.com, Faucette is a 5-star analyst with an average return of 10.5% and a 80.5% success rate. Faucette covers the Technology sector, focusing on stocks such as Trimble Navigation Limited, Riverbed Technology, and Ubiquiti Networks.

Currently, the analyst consensus on LendingClub Corp is Hold and the average price target is $6.33, representing a 31.6% upside.

In a report issued on October 28, Craig-Hallum also upgraded the stock to Buy.

The company has a one year high of $14.90 and a one year low of $3.44. Currently, LendingClub Corp has an average volume of 8.16M.

LendingClub Corp. operates as an online credit marketplace. It engages in the provision of facilitating personal loans, business loans, and financing for elective medical procedures. The company was founded by Renaud Laplanche in October 2006 and is headquartered in San Francisco, CA.