Qifu Technology (QFIN – Research Report), the Financial sector company, was revisited by a Wall Street analyst today. Analyst Emma Xu from Bank of America Securities reiterated a Buy rating on the stock and has a $50.66 price target.
Emma Xu’s rating is based on Qifu Technology’s strong financial performance and positive future outlook. The company reported a significant increase in non-GAAP net profit, surpassing both its previous guidance and market expectations. This growth is attributed to improved loan demand and stable risk conditions, which have led to better-than-expected results and guidance.
Additionally, Qifu Technology’s strategic initiatives, such as an increased dividend payout and a robust share buyback plan, enhance shareholder value. The company’s management is optimistic about future growth prospects, supported by favorable policy measures and a stable risk environment. These factors contribute to Emma Xu’s confidence in the stock’s potential, justifying the Buy rating with an increased price objective.