Richard Xu, an analyst from Morgan Stanley, maintained the Buy rating on Qifu Technology. The associated price target is $50.00.
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Richard Xu has given his Buy rating due to a combination of factors that highlight Qifu Technology’s strong financial position and market potential. Despite concerns about potential regulatory changes that could lower loan interest rate caps, Xu believes these worries are exaggerated. Qifu Technology’s current average loan yield is close to the expected regulatory cap, which suggests that the company is well-positioned to adapt to any changes without significant impact on its profitability.
Furthermore, Qifu Technology’s low forward price-to-earnings ratio and robust shareholder returns make it an attractive investment. The company’s ability to maintain leading loan margins, even in a potentially tighter regulatory environment, underscores its financial resilience. Xu’s analysis suggests that the market’s correction on Qifu Technology’s stock is overdone, presenting a compelling opportunity for investors.
Xu covers the Financial sector, focusing on stocks such as Ping An Insurance Company of China, Qifu Technology, and AIA Group. According to TipRanks, Xu has an average return of 4.1% and a 58.97% success rate on recommended stocks.
In another report released on November 1, TR | OpenAI – 4o also reiterated a Buy rating on the stock with a $27.00 price target.