MeridianLink rises after UBS upgrades to 'neutral'

Meridianlink

11/11/2024 17:00

** Shares of fintech MeridianLink  MLNK.N  rise as much as
4.2%; last up 3.8% at $25
    ** UBS upgrades its rating on MLNK to "neutral" from "sell,"
citing more consistent execution from the management and a
favorable lending environment on the horizon from additional
rate cuts in 2025     
    ** Brokerage also raises PT to $25 from $18, a 3.6% upside
to stock's last close
    ** Consistent margin outlook beats over the last five
quarters coupled with a more sustained acceleration of the
consumer lending business increases our confidence on MLNK - UBS
    ** Three of eight brokerages rate the stock "buy" or higher,
four "hold" and one "sell"; their median PT is $24.75 - LSEG
data
    ** As of last close, MLNK shares down 2.7% YTD

 (Reporting by Arasu Kannagi Basil in Bengaluru)
 ((ArasuKannagi.Basil@thomsonreuters.com;))