Oppenheimer lowered the firm’s price target on NerdWallet (NRDS) to $12 from $15 on lower peer multiples, while keeping an Outperform rating on the shares following quarterly results. The firm is encouraged by continuing LLM traffic share improvement, benefiting channel diversification and conversion. Oppenheimer believes AI disintermediation in financial service products is unlikely considering the legal/regulatory partner structure, likely requiring aggregator partnerships.
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