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Needham initiates coverage of LendingTree at 'buy'

Needham & Co. LLC analyst Mayank Tandon initiated coverage of LendingTree Inc.'s stock at "buy" and set a price target of $300.

The analyst established LendingTree's earnings per share estimates at $5.94 for 2018 and $7.90 for 2019.

Tandon wrote that LendingTree is poised to generate strong revenue growth given the continued push by consumers to digital channels for financial services.

Tandon expects LendingTree to maintain its focus on generating solid organic growth and finding accretive M&A while "opportunistically returning capital to shareholders through share repurchases."