Morgan Stanley Downgrades Lufax Holding Ltd (LU) to Equalweight

December 1, 2022 8:34 AM EST
Get Alerts LU Hot Sheet
Price: $3.27 +7.21%

Rating Summary:
    6 Buy, 10 Hold, 2 Sell

Rating Trend: Down Down

Today's Overall Ratings:
    Up: 16 | Down: 32 | New: 11
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Morgan Stanley analyst Richard Xu downgraded Lufax Holding Ltd (NYSE: LU) from Overweight to Equalweight with a price target of $1.52 (from $7.00).

The analyst comments "While regulatory uncertainty is largely behind us, we expect weak credit demand and credit risk to persist in 2023 given the macro environment. We believe QFIN and Bairong are better positioned to weather the storm than Lufax, where visibility on profits is lower."

For an analyst ratings summary and ratings history on Lufax Holding Ltd click here. For more ratings news on Lufax Holding Ltd click here.

Shares of Lufax Holding Ltd closed at $1.86 yesterday.

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