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QD

Qudian

09:37
11/24/17
11/24
09:37
11/24/17
09:37

Qudian price target lowered to $24 from $36 at Macquarie

Macquarie analyst Dexter Hsu lowered his price target for Qudian shares to $24 after Ant Financial asked the company and its peers to cap the annual percentage rate at 24%, below the 34% charged by Qudian, from the end of this month if they would like to stay in the ecosystem. While Alipay still accounts for two-thirds of Qudian's loans facilitated, the impact could be smaller than expected since the company has been directing users to its own app, where the annual percentage rate will stay at 36%, Hsu tells investors in a research note. Nonetheless, he cut his 2017, 2018, 2019 and 2020 earnings estimates by 8%, 23%, 32% and 39%, respectively. The analyst keeps an Outperform rating on Qudian shares.

QD Qudian

11/20/17
NEED
11/20/17
INITIATION
Target $30
NEED
Buy
Qudian initiated with a Buy at Needham
Needham analyst Mayank Tandon started Qudian with a Buy rating and $30 price target. The analyst calls the company a leading online provider of consumer credit in China and he views the shares as undervalued.
11/21/17
STFL
11/21/17
NO CHANGE
STFL
Qudian not subject to proposed regulations, buy shares, says Stifel
11/21/17
STFL
11/21/17
NO CHANGE
Target $35
STFL
Buy
Stifel says regulation headlines misinterpreted, buy Qudian shares
Stifel analyst John Davis recommends buying shares of Qudian on today's weakness after Bloomberg reported that Chinese authorities are suspending online small-loan company approvals. The stock in morning trading is down 13% to $17.43. After speaking to management, Davis believes the regulation referred to in the Bloomberg story would only apply to new companies attempting to enter the small loan marketplace. Qudian, which is already licensed in China, would not be subject to the proposed regulation, the analyst tells investors in a research note. He believes that if anything, the regulation would create a competitive advantage for Qudian, as it creates a significant barrier to entry. Davis has a Buy rating on the shares with a $35 price target.
11/24/17
SBSH
11/24/17
NO CHANGE
Target $38.79
SBSH
Buy
Qudian user growth to see limited impact from new rules, says Citi
Citi analyst Daphne Poon believes Alipay's new annualized rate cap of 24% will have a limited impact on Qudian's user growth. The analyst sees pressure on new user growth being "relatively limited" given Qudian's "strong brand recognition, large existing user base, and strong consumption scenario." Poon believes the company enjoys stronger borrower engagement ability than peers. The analyst does, however, see more potential for an earnings hit from the lower APR on loans facilitated via Alipay, especially for first time borrowers. If 20% of Qudian's loan volume is originated from Alipay and subject to the 24% APR cap, it will lower Qudian's 2018 earnings net profit after tax by 10%, the analyst tells investors in a research note. Poon keeps a Buy rating on Qudian with a $38.79 price target.

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