loanDepot's Fair Value Steady at $2.38 Despite Shifting Narrative

loanDepot's (LDI) modeled fair value remains steady at $2.38 despite shifting inputs. The slightly lower discount rate and firmer revenue growth assumptions reflect the collision of bullish and bearish views, with loan growth and net interest income momentum on one side and credit and macro worries on the other. Goldman Sachs highlights supportive trends for 2026 but maintains a Sell rating and cuts its price target to $2.40 from $3. Credit risk is the main wildcard for sustainable improvement.