BUZZ-Open Lending rises after Needham upgrades to 'buy'

Reuters

2025/01/29

** 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

(Reporting by Arasu Kannagi Basil in Bengaluru)

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

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