UPDATE: CLSA Upgrades LexinFintech Holdings (ADR) (LX) to Underperform (4)
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CLSA analyst Ethan Wang upgraded LexinFintech Holdings (ADR) (NASDAQ: LX) from Sell (5) to Underperform (4) with a price target of $2.30 (from $2.10).
The analyst comments "We revise up our TP from US$2.10 to US$2.30, due to: 1) 19% increase in 2023CL EPS; 2) 4% increase in discount due to higher credit driven business contribution; 3) 2% Rmb depreciation. Hence, we upgrade the stock from SELL to Underperform."
Shares of LexinFintech Holdings (ADR) closed at $2.22 yesterday.
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