---
title: "JP Morgan lowers QFIN-S target price to $14, quarterly results disappoint expectations"
type: "News"
locale: "en"
url: "https://longbridge.com/en/news/279708268.md"
description: "JP Morgan lowered the target price for QFIN-S to $14 due to its fourth-quarter 2025 performance falling short of expectations, with after-tax net profit 17% below forecast and 28% below market expectations. Regulatory tightening affects loan growth and pricing, with earnings per share forecasts for 2026 to 2028 revised down by 22% to 28%. Maintains a \"Neutral\" rating, facing short-term downside risks, but if asset quality exceeds expectations, there may be upside potential"
datetime: "2026-03-19T02:18:36.000Z"
locales:
  - [zh-CN](https://longbridge.com/zh-CN/news/279708268.md)
  - [en](https://longbridge.com/en/news/279708268.md)
  - [zh-HK](https://longbridge.com/zh-HK/news/279708268.md)
---

# JP Morgan lowers QFIN-S target price to $14, quarterly results disappoint expectations

JP Morgan released a report indicating that QFIN (QFIN.US) will underperform expectations in the fourth quarter of 2025. After deducting a one-time gain of 270 million RMB, the after-tax net profit is 17% and 28% lower than the bank's forecast and market expectations, respectively. In addition, tightening regulations are also putting pressure on loan growth and pricing. The bank has lowered its earnings per share forecasts for 2026/2027/2028 by 22%/24%/28%, and reduced the target price from $16 to $14. It maintains a "Neutral" rating, noting that there may be downside risks in the short term due to further regulatory tightening, but if asset quality exceeds expectations, there could be upside potential

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