BUZZ-Open Lending rises after Needham upgrades to 'buy'
ReutersJan 29, 2025 1:57 PM
Shares of lending services provider Open Lending Corp LPRO.O rise 3.9% to $5.86 premarket
Needham upgrades shares of LPRO to "buy" from "hold"; establishes $7 PT, a 24% upside to stock's last close
Brokerage says upgrade follows signs of modest improvement in the auto lending market
Adds that it is increasingly confident there will be an improvement in loan certification volumes as FY 2025 progresses
Six of nine brokerages rate the stock "buy" or higher and three "hold"; their median PT is $7 - LSEG data
LPRO stock slumped 29.9% in 2024
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