2024-03-15 12:40:37 ET
Summary
- QFIN's Q4 2023 top line exceeded the consensus estimate by +6%, and the company has guided for a +20% YoY growth in its bottom line for Q1 2024.
- Qifu Technology has announced a new $350 million share repurchase program that will be in effect for a year beginning in April 2024.
- There is the potential for QFIN to command a higher P/E multiple, considering its above-expectations fourth quarter revenue and its aggressive capital return initiatives.
Elevator Pitch
Qifu Technology's ( QFIN ) stock is awarded a Buy investment rating. My earlier December 22, 2023 write-up drew attention to Qifu Technology's "fundamentals and valuations."...
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For further details see:
Qifu Technology: Turning Bullish On Revenue Beat And New Buyback Plan (Rating Upgrade)