Fly News Breaks for October 8, 2019
Oct 8, 2019 | 16:43 EDT
Credit Suisse assumes coverage of Yirendai with a Neutral rating, down from Outperform, and a lowered price target to $6.92 from $20. The analyst notes that after the company's business realignment, its P2P outstanding loan balance has risen to RMB68B, which is the largest among its listed peers, and leaves it exposed to "triple reductions". The analyst adds that Yirendai's non-P2P assets under management at Yiren Wealth remains "too small."
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