In "The Big Banks," Citigroup lowers the target price for Qifu Tech to $27 and reaffirms the "Outperform" rating

Citi published a report stating that regulatory uncertainty regarding consumer loan interest rates is affecting liquidity tightening in the consumer loan market. In addition to the narrowing net interest margin, asset quality contagion risks and loan scale continue to be impacted. Therefore, it has lowered the earnings forecast for Qifu Tech-S (03660.HK) and reduced the target price for Qifu Tech (QFIN.US) on the US stock market from $32 to $27.

However, Citi pointed out that Qifu Tech's valuation remains attractive, with a forward price-to-earnings ratio of only 3.63 times over the next 12 months. Additionally, factors such as the clarification of regulatory policies could serve as potential catalysts for the stock price. It reiterated the "Outperform" rating