LendingTree assumed with an Overweight at JPMorgan

JPMorgan assumed coverage of LendingTree (TREE) with an Overweight rating and price target of $50, down from $83. LendingTree is a digital marketplace that enables consumers to compare financial products, the analyst tells investors in a research note. The firm says the shares are trading near a 10-year trough adjusted EBITDA multiple. While AI poses a terminal disintermediation risk, LendingTree should retain a role in the value chain of consumers shopping for financial products, contends JPMorgan.