UBS analyst Alex Ye upgraded LexinFintech (LX) and FinVolution (FINV) each to Buy from Neutral, given its view on China’s reopening, eased near-term regulatory risk, and a stabilized take rate outlook. These factors are "likely in the price of top-quality player" 360 DigiTech (QFIN), but not as much for these China internet finance "second-tier players," said the firm, which still sees some upside if upcoming macro data confirms the consumption rebound outlook.
Published first on TheFly
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