LendingClub price target lowered at Keefe Bruyette, share reaction ‘overblown’

Keefe Bruyette lowered the firm’s price target on LendingClub (LC) to $16 from $17 and keeps an Outperform rating on the shares. LendingClub’s guidance was below expectations, but likely is conservative, and the after-market reaction is overblown, the analyst tells investors in a research note.