LendingClub price target lowered to $19 from $20 at Piper Sandler

Piper Sandler lowered the firm’s price target on LendingClub (LC) to $19 from $20 and keeps an Overweight rating on the shares. The firm notes operating results for Q4 were weaker than expected as LC came in below its estimates primarily driven by a higher provision, but came in above their guidance on pre-provision net revenue.