Qifu Technology initiated with a Buy at Nomura

Nomura initiated coverage of Qifu Technology with a Buy rating and $22.72 price target. The current loan facilitation model mainly requires participants to have a unique edge in client acquisition and risk management, says the firm, which believe Qifu will be “a key winner” due to its strong credit performance with solid risk management, high proportion of capital-light business and tech-driven initiatives and “high bargaining power.”