Lufax price target lowered to $2.75 from $5.10 at Citi

Citi lowered the firm’s price target on Lufax to $2.75 from $5.10 and keeps a Neutral rating on the shares after the company reported a weaker-than-expected Q2 net loss and net revenue fell 14% quarter-over-quarter and 36% year-over-year. The firm, which adjusted its estimates, maintains a Neutral rating as it awaits a “more meaningful profit turnaround,” the analyst tells investors.