BUZZ-LendingClub rises after Citizens upgrades to 'market outperform'

Reuters11-10

BUZZ-<a href="https://laohu8.com/S/LC">LendingClub</a> rises after Citizens upgrades to 'market outperform'

** Consumer lender LendingClub's LC.N shares rise 4.6% to $18.99

** Citizens upgrades LC to "market outperform" from "market perform"; establishes $23 PT, representing a 26.7% upside to stock's last close

** Management's commentary on investor day last week gives it more confidence in the loan growth outlook and better scale in the business in coming years - Brokerage

** Adds, concerns around the emergence of a competitive lending environment from aggressive fintech competitors have not materialized

** Eleven of 12 brokerages rate the stock "buy" or higher and one "hold"; median PT $22 - data compiled by LSEG

** As of last close, LC stock up 12% YTD

(Reporting by Arasu Kannagi Basil in Bengaluru)

((ArasuKannagi.Basil@thomsonreuters.com;))

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