Breaking News

Over a week ago
Show Full Stories

X

To view all stories in expanded form, please subscribe.
Send Info
Upgrade
China Renaissance ups LexinFintech to Buy, raises Fintech sector to Overweight » 06:47
06/16/20
06/16
06:47
06/16/20
06:47
LX

LexinFintech

$10.26 /

+1.09 (+11.89%)

, QFIN

360 Finance

$9.97 /

+0.31 (+3.21%)

, QD

Qudian

$1.63 /

+0.085 (+5.50%)

As previously reported,…

As previously reported, China Renaissance analyst Jacky Zuo upgraded LexinFintech (LX) to Buy from Hold with a price target of $13, up from $12, as part of a broader upgrade of the Fintech sector to Overweight due to expectations for steady improvement of credit post COVID-19 and what are viewed as positive regulatory developments. Within the group, Zuo said 360 Finance (QFIN) remains the sector Top Pick given its "resilient earnings and undemanding valuation. Zuo reiterates a Hold rating on Qudian (QD) citing what is seen as "still-low visibility" into a turnaround at the company.

ShowHide Related Items >><<
QFIN 360 Finance
$9.97 /

+0.31 (+3.21%)

QD Qudian
$1.63 /

+0.085 (+5.50%)

LX LexinFintech
$10.26 /

+1.09 (+11.89%)

LX LexinFintech
$10.26 /

+1.09 (+11.89%)

06/15/20 China Renaissance
LexinFintech upgraded to Buy from Hold at China Renaissance
06/09/20 Citi
LexinFintech upgraded to Buy following pullback at Citi
06/09/20 Citi
LexinFintech upgraded to Buy from Neutral at Citi
05/26/20 Nomura Instinet
LexinFintech price target lowered to $13.29 from $16.58 at Nomura Instinet
QFIN 360 Finance
$9.97 /

+0.31 (+3.21%)

04/24/20
Fly Intel: Top five analyst initiations
04/24/20 Morgan Stanley
360 Finance initiated with an Overweight at Morgan Stanley
QD Qudian
$1.63 /

+0.085 (+5.50%)

06/04/20
Fly Intel: Top five analyst downgrades
06/04/20 Citi
Qudian downgraded to Sell from Neutral at Citi
03/19/20 Nomura Instinet
Qudian price target lowered to $1.42 from $3.08 at Nomura Instinet
01/22/20 Nomura Instinet
Qudian downgraded to Reduce from Neutral at Nomura Instinet
QFIN 360 Finance
$9.97 /

+0.31 (+3.21%)

QD Qudian
$1.63 /

+0.085 (+5.50%)

QFIN 360 Finance
$9.97 /

+0.31 (+3.21%)

QD Qudian
$1.63 /

+0.085 (+5.50%)

LX LexinFintech
$10.26 /

+1.09 (+11.89%)

Upgrade
LexinFintech upgraded to Buy following pullback at Citi » 07:40
06/09/20
06/09
07:40
06/09/20
07:40
LX

LexinFintech

$8.87 /

-0.105 (-1.17%)

, QFIN

360 Finance

$9.91 /

-0.07 (-0.70%)

As previously reported,…

As previously reported, Citi upgraded LexinFintech (LX) to Buy from Neutral, arguing that COVID-19 "has been the perfect stress test for the online consumer lenders" and that 360 Finance (QFIN) and Lexin have emerged as the leaders. The analyst believes the worst of the earnings hit asset quality risk from COVID-19 is over and notes the recent underperformance of LexinFintech share, which are down 36% year-to-date.

ShowHide Related Items >><<
QFIN 360 Finance
$9.91 /

-0.07 (-0.70%)

LX LexinFintech
$8.87 /

-0.105 (-1.17%)

LX LexinFintech
$8.87 /

-0.105 (-1.17%)

06/09/20 Citi
LexinFintech upgraded to Buy from Neutral at Citi
05/26/20 Nomura Instinet
LexinFintech price target lowered to $13.29 from $16.58 at Nomura Instinet
03/06/20
Fly Intel: Top five analyst downgrades
03/05/20 China Renaissance
LexinFintech downgraded to Hold from Buy at China Renaissance
QFIN 360 Finance
$9.91 /

-0.07 (-0.70%)

04/24/20
Fly Intel: Top five analyst initiations
04/24/20 Morgan Stanley
360 Finance initiated with an Overweight at Morgan Stanley
QFIN 360 Finance
$9.91 /

-0.07 (-0.70%)

QFIN 360 Finance
$9.91 /

-0.07 (-0.70%)

LX LexinFintech
$8.87 /

-0.105 (-1.17%)

Hot Stocks
360 Finance affiliate acquires 30% stake in Kincheng Bank of Tianjin » 16:07
06/05/20
06/05
16:07
06/05/20
16:07
QFIN

360 Finance

$9.99 /

+0.53 (+5.60%)

360 Finance announced…

360 Finance announced that 360 Group, one of its affiliates, acquired a 30% stake in Kincheng Bank of Tianjin Co., Ltd. making 360 Group the biggest shareholder of the bank. Upon completion of the deal, Kincheng Bank will become the third Chinese digital bank to be backed by an internet giant. Kincheng Bank has long been a strategic partner of 360 Finance and the two companies have collaborated in areas such as technology and customer service. The deal will allow both parties to collaborate and realize greater synergies. 360 Finance's leading technology in the fintech sector will be further bolstered by the comprehensive financial service offerings of Kincheng Bank, which has specific expertise and extensive experience serving medium, small and micro-sized companies. The collaboration should help 360 Finance to further lower funding costs, expand the customer base and increase the loans facilitated through the company's platform services. As a result of the deal, 360 Finance continues to accomplish its goal of minimizing regulatory uncertainties by obtaining a comprehensive set of financial licenses, including for online micro-lending, financing guarantees, consumer finance, insurance brokerage and fund sales. The acquisition of Kincheng Bank also provides the company with a banking license, which is one of the most difficult and valuable financial licenses in China to obtain.

ShowHide Related Items >><<
QFIN 360 Finance
$9.99 /

+0.53 (+5.60%)

QFIN 360 Finance
$9.99 /

+0.53 (+5.60%)

04/24/20
Fly Intel: Top five analyst initiations
04/24/20 Morgan Stanley
360 Finance initiated with an Overweight at Morgan Stanley
QFIN 360 Finance
$9.99 /

+0.53 (+5.60%)

QFIN 360 Finance
$9.99 /

+0.53 (+5.60%)

Over a month ago
Hot Stocks
360 Finance receives App Security, Information Security certifications » 07:47
06/02/20
06/02
07:47
06/02/20
07:47
QFIN

360 Finance

$9.50 /

-0.52 (-5.19%)

360 Finance announced…

360 Finance announced that its fintech services application, 360 Jietiao, has received both the App Security Certification and the App Information Security Certification from China's National Computer Virus Emergency Response Center. Specifically, 360 Jietiao received a level 3 rating for both app privacy and data security, the highest level granted by the agency. CVERC is the official agency for anti-virus internet security and designated testing body for the "Special Crackdown on the Illegal Collection and Misuse of Personal Information by Apps" initiative by China's Ministry of Public Security.

ShowHide Related Items >><<
QFIN 360 Finance
$9.50 /

-0.52 (-5.19%)

QFIN 360 Finance
$9.50 /

-0.52 (-5.19%)

04/24/20
Fly Intel: Top five analyst initiations
04/24/20 Morgan Stanley
360 Finance initiated with an Overweight at Morgan Stanley
QFIN 360 Finance
$9.50 /

-0.52 (-5.19%)

QFIN 360 Finance
$9.50 /

-0.52 (-5.19%)

Hot Stocks
360 Finance appoints Dan Zhao to board of directors » 07:51
05/28/20
05/28
07:51
05/28/20
07:51
QFIN

360 Finance

$9.89 /

+0.415 (+4.38%)

360 Finance announced…

360 Finance announced that Dan Zhao has been appointed as a director on the board of directors of the Company, effective immediately. Dan Zhao is currently the vice president of 360 Group.

ShowHide Related Items >><<
QFIN 360 Finance
$9.89 /

+0.415 (+4.38%)

QFIN 360 Finance
$9.89 /

+0.415 (+4.38%)

04/24/20
Fly Intel: Top five analyst initiations
04/24/20 Morgan Stanley
360 Finance initiated with an Overweight at Morgan Stanley
QFIN 360 Finance
$9.89 /

+0.415 (+4.38%)

QFIN 360 Finance
$9.89 /

+0.415 (+4.38%)

Hot Stocks
360 Finance sees 2020 loan origination volume RMB200B-RMB220B  07:30
05/28/20
05/28
07:30
05/28/20
07:30
QFIN

360 Finance

$9.89 /

+0.415 (+4.38%)

 
ShowHide Related Items >><<
QFIN 360 Finance
$9.89 /

+0.415 (+4.38%)

QFIN 360 Finance
$9.89 /

+0.415 (+4.38%)

04/24/20
Fly Intel: Top five analyst initiations
04/24/20 Morgan Stanley
360 Finance initiated with an Overweight at Morgan Stanley
QFIN 360 Finance
$9.89 /

+0.415 (+4.38%)

QFIN 360 Finance
$9.89 /

+0.415 (+4.38%)

Earnings
360 Finance reports Q1 EPS RMB2.40 vs. RMB0.61 last year » 07:30
05/28/20
05/28
07:30
05/28/20
07:30
QFIN

360 Finance

$9.89 /

+0.415 (+4.38%)

Reports Q1 revenue…

Reports Q1 revenue RMB3.18B vs. RMB2.01B last year. Mr. Haisheng Wu, Chief Executive Officer and Director of 360 Finance, commented, "The first quarter of 2020 was an unusual quarter, as the entire fintech industry essentially went through a COVID-19-induced extreme stress test in terms of business performance and asset quality. Our results for the quarter demonstrate that we successfully passed this test with flying colors, while maintaining high standards in compliance and a prudent risk management strategy. We attribute this success to our high-quality borrower base and the cautious operation approach. Furthermore, we attained remarkable progress in every aspect of our business operation despite challenging market conditions. Loan origination volume reached RMB51.8 billion during the quarter, a 25.6% year-over-year increase. Despite the unfavorable market conditions in the first quarter, we endeavored to sustain a considerable loan origination volume with decent risk profile compared to last quarter in 2019. During the quarter, the total revenue reached RMB3.18 billion. Free cash flow increased substantially as well which will provide additional cushion for risk management and further uphold our strong risk resilience. In face of COVID-19 outbreak, we persist in refining our management, continuously improving operational efficiency and bolstering sustainable development. This is the third sequential quarter during which we effectively brought down both customer acquisition cost and funding cost. What's worth noting here is that we have successfully issued three ABSs to date this year. The cost of the most recent one reached a coupon rate as low as 4.2% for the senior A tranche. During this quarter, the outstanding balance of loans under capital-light model within Platform Services, for which we bear limited principle risk, continued to increase and accounted for 21.2% out of total outstanding loan balance contributing to a further descending leverage ratio and a sufficient 4.0x of provision coverage ratio. In terms of compliance, recently China Banking and Insurance Regulatory Commission for the first time issued a consultative "Guidelines on Commercial Banks' Online Lending Business" draft which is viewed as the basic law for the online lending industry in China. The Draft substantially reduces regulatory overhang and is beneficial for the overall fintech industry, and in particular, the leading players like us. In addition, we have committed great efforts in launching more pilot projects aiming to expand customer acquisition channels and boost existing users' stickiness. We not only have expanded more user traffic channels such as external platforms with consumption scenarios, but also considerably enhanced users' stickiness through a virtual credit product called V-pocket. As indicated by recent operation data, our business is stably recovering with growth prospects. We management team anticipate a very solid quarter going forward and remain in full confidence to achieve full year operation target."

ShowHide Related Items >><<
QFIN 360 Finance
$9.89 /

+0.415 (+4.38%)

QFIN 360 Finance
$9.89 /

+0.415 (+4.38%)

04/24/20
Fly Intel: Top five analyst initiations
04/24/20 Morgan Stanley
360 Finance initiated with an Overweight at Morgan Stanley
QFIN 360 Finance
$9.89 /

+0.415 (+4.38%)

QFIN 360 Finance
$9.89 /

+0.415 (+4.38%)

Initiation
Fly Intel: Top five analyst initiations » 10:08
04/24/20
04/24
10:08
04/24/20
10:08
RDUS

Radius Health

$16.89 /

-0.34 (-1.97%)

, QFIN

360 Finance

$7.46 /

+0.08 (+1.08%)

, AWK

American Water

$125.39 /

+0.46 (+0.37%)

, WTRG

Essential Utilities

$42.97 /

+0.34 (+0.80%)

, SJW

SJW Group

$57.74 /

-0.05 (-0.09%)

, ARW

Arrow Electronics

$53.98 /

+0.24 (+0.45%)

, AVT

Avnet

$27.29 /

+ (+0.00%)

, TEVA

Teva

$10.22 /

+0.05 (+0.49%)

, MNK

Mallinckrodt

$3.47 /

+0.015 (+0.43%)

, ENDP

Endo

$4.04 /

+0.27 (+7.16%)

, BHC

Bausch Health

$17.41 /

+1.09 (+6.68%)

Catch up on today's…

Catch up on today's top five analyst initiations with this list compiled by The Fly: 1. Radius Health (RDUS) initiated with a Hold at Stifel. 2. 360 Finance (QFIN) initiated with an Overweight at Morgan Stanley. 3. American Water (AWK), Essential Utilities (WTRG), and SJW Group (SJW) were initiated with an Outperform at RBC Capital. 4. Arrow Electronics (ARW) was initiated with a Buy at Loop Capital while Avnet (AVT) was initiated with a Hold. 5. Endo (ENDP) and Bausch Health (BHC) were initiated with a Buy at Citi, while Mallinckrodt (MNK) was initiated with a Sell, and Teva (TEVA) was initiated with a Neutral. This list is just a portion of The Fly's analyst coverage. To see The Fly's full Street Research coverage, click here.

ShowHide Related Items >><<
RDUS Radius Health
$16.89 /

-0.34 (-1.97%)

04/23/20 Stifel
Radius Health initiated with a Hold at Stifel
04/23/20 Stifel
Radius Health initiated with a Hold at Stifel
11/06/19 SVB Leerink
Radius Health price target lowered to $35 from $49 at SVB Leerink
08/29/19 Citi
Radius Health upgraded to Buy from Neutral at Citi
QFIN 360 Finance
$7.46 /

+0.08 (+1.08%)

04/24/20 Morgan Stanley
360 Finance initiated with an Overweight at Morgan Stanley
05/14/19 China Renaissance
360 Finance initiated with a Buy at China Renaissance
AWK American Water
$125.39 /

+0.46 (+0.37%)

04/24/20 RBC Capital
American Water initiated with an Outperform at RBC Capital
04/15/20 Goldman Sachs
American Water upgraded to Buy from Neutral at Goldman Sachs
02/20/20 Baird
American Water price target raised to $139 from $128 at Baird
02/20/20 Wells Fargo
American Water price target raised to $147 from $128 at Wells Fargo
WTRG Essential Utilities
$42.97 /

+0.34 (+0.80%)

04/24/20 RBC Capital
Essential Utilities initiated with an Outperform at RBC Capital
04/15/20 Goldman Sachs
Essential Utilities initiated with a Neutral at Goldman Sachs
SJW SJW Group
$57.74 /

-0.05 (-0.09%)

04/24/20 RBC Capital
SJW Group initiated with an Outperform at RBC Capital
11/15/19 JPMorgan
SJW Group initiated with a Neutral at JPMorgan
10/07/19
Fly Intel: Top five analyst initiations
10/07/19 Macquarie
SJW Corp. initiated with an Outperform rating at Macquarie
ARW Arrow Electronics
$53.98 /

+0.24 (+0.45%)

04/24/20 Loop Capital
Arrow Electronics initiated with a Buy at Loop Capital
04/23/20 Loop Capital
Arrow Electronics initiated with a Buy at Loop Capital
04/14/20 Raymond James
Arrow Electronics downgraded to Market Perform from Outperform at Raymond James
03/20/20 Wells Fargo
Wells Fargo cuts price targets in IT Hardware & Communications Networking space
AVT Avnet
$27.29 /

+ (+0.00%)

04/24/20 Loop Capital
Avnet initiated with a Hold at Loop Capital
04/23/20 Loop Capital
Avnet initiated with a Hold at Loop Capital
03/19/20 Wells Fargo
Avnet upgraded to Equal Weight from Underweight at Wells Fargo
03/16/20 SunTrust
Avnet upgraded to Hold, Belden to Buy at SunTrust
TEVA Teva
$10.22 /

+0.05 (+0.49%)

04/24/20 Citi
Teva initiated with a Neutral at Citi
04/06/20 UBS
Teva upgraded to Buy from Neutral at UBS
03/23/20 SunTrust
SunTrust lowers price targets among Pharmaceuticals due to COVID-19
03/09/20 Oppenheimer
Amgen price target lowered to $250 from $256 at Oppenheimer
MNK Mallinckrodt
$3.47 /

+0.015 (+0.43%)

04/24/20 Citi
Mallinckrodt initiated with a Sell at Citi
02/25/20 Stifel
Mallinckrodt clearing path for shares to be revalued, says Stifel
01/22/20 Wells Fargo
Revance, Amphastar named top 2020 Specialty Pharmaceuticals ideas at Wells Fargo
09/10/19 Stifel
Mallinckrodt's sale of BioVectra helps alleviate cash pressure, says Stifel
ENDP Endo
$4.04 /

+0.27 (+7.16%)

04/24/20 Citi
Endo initiated with a Buy at Citi
01/03/20 Piper Sandler
Endo upgraded to Overweight from Neutral at Piper Jaffray
09/11/19 Guggenheim
Endo assumed with a Neutral at Guggenheim
07/15/19
Fly Intel: Top five analyst downgrades
BHC Bausch Health
$17.41 /

+1.09 (+6.68%)

04/24/20 Citi
Bausch Health initiated with a Buy at Citi
04/02/20 Morgan Stanley
Bausch Health downgraded to Equal Weight with $17 price target at Morgan Stanley
04/02/20 Morgan Stanley
Bausch Health downgraded to Equal Weight from Overweight at Morgan Stanley
03/26/20 Piper Sandler
Doctor survey shows 'massive' near-term COVID disruption, says Piper Sandler
Initiation
360 Finance initiated with an Overweight at Morgan Stanley » 06:39
04/24/20
04/24
06:39
04/24/20
06:39
QFIN

360 Finance

$7.38 /

-0.14 (-1.86%)

Morgan Stanley analyst…

Morgan Stanley analyst John Cai initiated coverage of 360 Finance with an Overweight rating and $12.40 price target.

ShowHide Related Items >><<
QFIN 360 Finance
$7.38 /

-0.14 (-1.86%)

05/14/19 China Renaissance
360 Finance initiated with a Buy at China Renaissance
Over a quarter ago
On The Fly
Fly Intel: Pre-market Movers » 09:14
03/27/20
03/27
09:14
03/27/20
09:14
WW

WW

$16.85 /

-0.3 (-1.75%)

, SCWX

Secureworks

$11.85 /

+0.84 (+7.63%)

, GME

GameStop

$4.40 /

+0.19 (+4.51%)

, KBH

KB Home

$18.95 /

-0.48 (-2.47%)

, ALT

Altimmune

$3.24 /

-0.13 (-3.86%)

, OCGN

Ocugen

$0.35 /

+0.0471 (+15.55%)

, QFIN

360 Finance

$7.48 /

+0.18 (+2.47%)

, LULU

Lululemon

$200.80 /

+7.18 (+3.71%)

, TXMD

TherapeuticsMD

$1.26 /

-0.025 (-1.95%)

, HTZ

Hertz

$7.24 /

-0.465 (-6.04%)

, GPS

Gap

$8.43 /

-0.55 (-6.12%)

Check out this morning's…

Open Full Text

ShowHide Related Items >><<
WW WW
$16.85 /

-0.3 (-1.75%)

03/27/20 Morgan Stanley
WW upgraded to Overweight ahead of end of 'cocooning' phase at Morgan Stanley
03/27/20 Morgan Stanley
WW upgraded to Overweight from Equal Weight at Morgan Stanley
03/26/20
Fly Intel: Top five analyst downgrades
03/26/20 Goldman Sachs
WW downgraded to Neutral from Buy at Goldman Sachs
SCWX Secureworks
$11.85 /

+0.84 (+7.63%)

03/20/20 Goldman Sachs
Secureworks upgraded to Neutral from Sell at Goldman Sachs
11/12/19 Goldman Sachs
Secureworks initiated with a Sell at Goldman Sachs
04/15/19 JPMorgan
Dell Technologies price target raised to $77 from $68 at JPMorgan
GME GameStop
$4.40 /

+0.19 (+4.51%)

03/27/20 Baird
GameStop trneds to remain weak despite recent increase, says Baird
03/20/20
Fly Intel: Top five analyst downgrades
03/20/20 Benchmark
GameStop does not qualify as an essential retailer, says Benchmark
03/20/20 Wedbush
GameStop downgraded to Neutral from Outperform at Wedbush
KBH KB Home
$18.95 /

-0.48 (-2.47%)

03/27/20 Wells Fargo
KB Home price target lowered to $24 from $41 at Wells Fargo
03/25/20 KeyBanc
KeyBanc upgrades KB Home to Overweight on valuation, policy response
03/24/20 KeyBanc
KB Home upgraded to Overweight from Sector Weight at KeyBanc
03/12/20 BofA
Foundation Building, Toll Brothers cut to Underperform, KB Home upgraded at BofA
ALT Altimmune
$3.24 /

-0.13 (-3.86%)

02/24/20
Fly Intel: Top five analyst initiations
02/24/20 Roth Capital
Altimmune resumed with a Buy at Roth Capital
07/19/19
Fly Intel: Top five analyst initiations
07/19/19 Roth Capital
Altimmune initiated with a Buy at Roth Capital
OCGN Ocugen
$0.35 /

+0.0471 (+15.55%)

12/20/19 H.C. Wainwright
Ocugen initiated with a Buy at H.C. Wainwright
10/14/19 Roth Capital
Ophthalmic therapies 'could go from 0 to 100 real quick,' says Roth Capital
QFIN 360 Finance
$7.48 /

+0.18 (+2.47%)

05/14/19 China Renaissance
360 Finance initiated with a Buy at China Renaissance
LULU Lululemon
$200.80 /

+7.18 (+3.71%)

03/27/20 Cowen
Lululemon price target raised to $235 from $198 at Cowen
03/27/20 Raymond James
Lululemon price target lowered to $250 from $300 at Raymond James
03/27/20 Needham
Lululemon price target raised to $225 from $200 at Needham
03/27/20 BMO Capital
Lululemon price target lowered to $175 from $231 at BMO Capital
TXMD TherapeuticsMD
$1.26 /

-0.025 (-1.95%)

02/21/20 H.C. Wainwright
TherapeuticsMD price target lowered to $6 from $7 at H.C. Wainwright
12/12/19 Stifel
Stifel says TherapeuticsMD's Annovera 'insulated' against generic NuvaRing
12/02/19 Guggenheim
TherapeuticsMD initiated with a Buy at Guggenheim
10/25/19 Stifel
TherapeuticsMD price target cut to $17 from $20 at Stifel
HTZ Hertz
$7.24 /

-0.465 (-6.04%)

03/27/20 Consumer Edge
Hertz downgraded to Underweight from Equal Weight at Consumer Edge
03/25/20
Fly Intel: Top five analyst downgrades
03/25/20 Barclays
Hertz downgraded to Equal Weight from Overweight at Barclays
03/24/20 Morgan Stanley
Morgan Stanley upgrades Auto industry rating to In-Line from Cautious
GPS Gap
$8.43 /

-0.55 (-6.12%)

03/19/20 Morgan Stanley
Morgan Stanley lowers targets for Gap, Macy's, and four other levered retailers
03/13/20 BMO Capital
Gap price target lowered to $15 from $18 at BMO Capital
03/13/20 MKM Partners
Gap price target lowered to $11 from $19 at MKM Partners
03/12/20 Wedbush
Gap price target lowered to $12 from $20 at Wedbush

Get Full Fly Access

Breaking market intelligence sent straight to you
Our team of experts analyze every news story and filter out the noise to deliver real-time market moving news.
Up-to-date information on important industry events
Get real-time updates on events that are moving the market—from conferences and calls to syndicate announcements.
News focused on the companies in your portfolio
Create up to 12 portfolios with 150 stocks each, and see how active they are in market news.