Qfin downgraded to Neutral from Buy at BofA

BofA downgraded Qfin (QFIN) to Neutral from Buy with a price target of $13.80, down from $42.58. While valuation “appears depressed” and the dividend yield “remains attractive,” prolonged regulatory headwinds and absence of buybacks leave the stock without a clear catalyst for a near-term re-rating, the analyst tells investors.