UPDATE: BTIG Research Initiates Coverage On Deck Capital On Position For Outsize Growth

In a report published Tuesday, BTIG Research analyst Mark Palmer initiated coverage on On Deck Capital Inc (NYSE: ONDK) with a Buy rating and $25.00 price target.

In the report, BTIG Research noted, “We are initiating coverage of OnDeck Capital (ONDK) with a BUY recommendation and a price target of $25 based on 25x our 2018E EBITDA of $102.6mm discounted back at 12%. We believe the pullback in the shares following their post-IPO surge has created an interesting buying opportunity.”

On Deck Capital closed on Friday at $18.50.