Tree.Com (TREE) PT Lifted to $60 at Needham & Company

Needham & Company analyst Kerry Rice reiterated a Buy rating and boosted his price target on Tree.Com (NASDAQ: TREE) to $60.00 (from $56.00) saying they are more positive on non-mortgage growth opportunities.

Rice commented, "Tree.com held its analyst day on Monday in New York. While the company did not provide updated financials, we are incrementally more positive on the growth prospects of the company, especially for the non-Mortgage business where we see several upside opportunities within Personal loans. We also believe emerging Business loans, Credit cards and Student loans segments could layer on additional upside. Last, we believe the company's My LendingTree platform should drive engagement among prior customers and lower acquisition costs for new customers as its predictive algorithms enhance customer targeting. We are raising our price target to $60 to reflect these 2015 upside opportunities."

For an analyst ratings summary and ratings history on Tree.Com click here. For more ratings news on Tree.Com click here.

Shares of Tree.Com closed at $50.63 yesterday.

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