In a report released today, Emma Xu from Bank of America Securities reiterated a Buy rating on Qifu Technology, with a price target of $42.58.
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Emma Xu has given her Buy rating due to a combination of factors including Qifu Technology’s strong financial performance and strategic initiatives. The company’s revenue increased significantly, surpassing market expectations, and its non-GAAP net profit was at the higher end of guidance, indicating robust operational efficiency despite macroeconomic and regulatory challenges.
Additionally, Qifu Technology’s aggressive share buyback plans and attractive dividend payouts reflect a commitment to returning capital to shareholders, which is appealing to investors. While there are uncertainties related to new regulatory rules, the company’s historical resilience in navigating similar challenges and its solid capital return profile suggest a positive outlook for the stock in the medium to long term.