BTIG analyst Giuliano Bologna upgraded On Deck Capital (ONDK) to Buy from Neutral with a $4.25 price target.
The stock closed yesterday down 23%, or 92c, to $3.04.
The company's "soft" Q2 results is offset by the $50M share repurchase plan and desire to pursue a bank charter, Bologna tells investors in a research note. He believes the sharp decline yesterday in On Deck's share price post-earnings is "overly punitive and creates an attractive entry point."
The company should begin to see margin and earnings improvement over the next few quarters, says Bologna.
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