LendingTree price target lowered to $60 from $72 at Truist

Truist lowered the firm’s price target on LendingTree (TREE) to $60 from $72 but keeps a Buy rating on the shares after its “mixed” Q1 results and guidance. The firm remains constructive on LendingTree as it believes that the company’s scale, well diversified revenue base, and valuation provide an attractive play on the on-going recovery in Insurance and over time in the Home and Consumer segments as rates normalize, the analyst tells investors in a research note. LendingTree’s balance sheet also remains adequate to support the current business, the firm adds.