LX - LexinFintech falls as downgraded to Sell from Outperform at CLSA Citi

Citi analyst Julia Cheung downgraded LexinFintech (LX -6.9%) to Neutral from Buy with a price target of $2.44, down from $4.29, citing a "dimmer near-term earnings outlook" after the company reported Q1 results and full-year guidance. Also, CLSA analyst Ethan Wang has also downgraded to Sell from Outperform. Despite "soft" loan volume growth in Q1, LexinFintech maintained its loan origination volume growth for 2022 at 10% year-over-year. Since the start of 2022, LexinFintech shares were down around 51%, and over a period of one year, shares were down around 84%. Wall Street analysts stand with a Hold rating on the stock and Seeking Alpha Quant Rating also says Hold.

For further details see:

LexinFintech falls as downgraded to Sell from Outperform at CLSA, Citi