| Over a week ago | ||||
Nomura Instinet analyst… Nomura Instinet analyst Martin Ma lowered the firm's price target on LexinFintech to $13.29 from $16.58 and keeps a Buy rating on the shares. The analyst sees relatively low visibility on the potential impacts from the adoption of the new accounting rule on Lexin's Q1 earnings. | ||||
| Over a month ago | ||||
Catch up on today's… Catch up on today's top five analyst downgrades with this list compiled by The Fly: 1. NextEra Energy Partners (NEP) downgraded to Neutral from Buy at Goldman Sachs with analyst David Fishman saying he continues to expect the company to generate "outsized renewable-driven" growth, but also sees limited catalysts in 2020 after a period of solid outperformance. 2. Calyxt (CLXT) downgraded to Neutral from Buy at Goldman Sachs and to Equal Weight from Overweight at Wells Fargo. 3. LexinFintech (LX) downgraded to Hold from Buy at China Renaissance with analyst Jacky Zuo saying he sees downside risk to LexinFintech's full-year loan volume guidance and is concerned about the credit cycle. 4. Kroger (KR) downgraded to Neutral from Outperform at Credit Suisse with analyst Judah Frommer saying he believes the company's "consistency of execution" is priced into the shares following its "solid" Q4 results. 5. Booking Holdings (BKNG) downgraded to Hold from Buy at Argus. This list is just a portion of The Fly's full analyst coverage. To see The Fly's full Street Research coverage, click here. | ||||
China Renaissance analyst… China Renaissance analyst Jacky Zuo downgraded LexinFintech to Hold from Buy with a price target of $12, down from $18. The analyst sees downside risk to LexinFintech's full-year loan volume guidance and is concerned about the credit cycle. | ||||
| Over a quarter ago | ||||
LexinFintech announced… LexinFintech announced that the company has successfully bid for a plot of land in Shenzhen's Nanshan district. Total purchase price for the acquisition of the land plot is expected to be RMB 1.032B. The company expects to enter into definitive agreements with the municipal government in the first quarter of 2020. The company has paid a RMB 206.4M security deposit as part of the bid. Pursuant to the terms of the bid, the company is expected to pay 50% of the total purchase price (minus the security deposit) immediately after the signing of the definitive agreements, and the remaining 50% of the purchase price within one year after the signing. The land use rights are subject to certain agreed-upon performance requirements and transfer restrictions. | ||||
Latest data shows the… Latest data shows the largest indicative borrow rate increases among liquid option names include: Alliance Resource Partners (ARLP) 59.11% +2.10, Diamond Eagle Acquisition Corp (DEAC) 6.44% +0.77, Kirkland Lake Gold (KL) 0.92% +0.62, Cronos Group (CRON) 14.88% +0.61, GTT Communications (GTT) 90.96% +0.17, LexinFintech (LX) 1.10% +0.11, Cloudflare (NET) 0.47% +0.11, B&G Foods (BGS) 4.40% +0.09, Utilities Sector SPDR ETF (XLU) 0.58% +0.08, and Direxion Daily Gold Miners Bull 3X Shares (NUGT) 1.37% +0.08. | ||||
BOCOM analyst Hannah Han… BOCOM analyst Hannah Han initiated coverage of LexinFintech with a Buy rating and $12.34 price target. | |
Catch up on today's… Catch up on today's top five analyst initiations with this list compiled by The Fly: 1. Peloton (PTON) initiated with an Outperform rating at Baird. 2. Boot Barn (BOOT) initiated with an Overweight rating at Stephens. 3. Wingstop (WING) initiated with a Buy rating at Loop Capital. 4. LexinFintech (LX) initiated with an Outperform at Credit Suisse. 5. New York Times (NYT) initiated with a Neutral at Guggenheim. This list is just a portion of The Fly's analyst coverage. To see The Fly's full Street Research coverage, click here. | |
UP AFTER EARNINGS: … UP AFTER EARNINGS: FireEye (FEYE) up 4.8% after positive Q3 revenue pre-announcement. ALSO HIGHER: Just Energy (JE) up 4.3% after sale of UK unit, NA cost reduction initiative... LexinFintech (LX) up 2.5% after being initiated with Outperform at Credit Suisse... Peloton (PTON) up 0.4% after being initiated with Outperform at Baird. DOWN AFTER EARNINGS: Levi Strauss (LEVI) down 2.4%. ALSO LOWER: U.S. Steel (X) down 1.6% after announcing resignation of CFO... Johnson & Johnson (JNJ) down 1.5% after Reuters report of $8B punitive damages award in Risperdal case. Movers as of 18:45ET. | |
Credit Suisse initiated… Credit Suisse initiated LexinFintech with an Outperform rating and a $17 price target. The analyst believes LexinFintech has comparative advantages in risk control capability and sustainable customer acquisition, and forecast "robust origination volume growth" for FY19-FY21. | |
Fintech company Stripe… Fintech company Stripe "closer to the top ranks of the highest-priced U.S. startups after a new fundraising round valued the financial-technology company at $35B," says Peter Rudegeair of the Wall Street Journal. Stripe investors include the likes of Sequoia Capital, General Catalyst and Andreessen Horowitz which led its recent funding round, according to the WSJ story. Stripe allows digital companies and online marketplaces " to accept credit cards for their goods and services and pay out money to the people and firms that sell on their platforms," added the WSJ. Other publicly traded companies in the Finech space include Square (SQ), LendingClub (LC), Fiserv (FISV), PayPal (PYPL), FinTech Acquisition (FNTE), Alibaba (BABA),LexinFintech (LX) and (ADDYF). Reference Link |