Lufax (NYSE:LU) Upgraded by JPMorgan Chase & Co. to "Overweight" Rating

Key Points

• JPMorgan upgraded Lufax to “Overweight” from “Neutral” and set a $2.00 price target, implying approximately 38.4% upside from the reported $1.45 share price.
• Despite the upgrade, analyst sentiment remains mixed: Lufax has a consensus “Hold” rating, with one Buy, one Hold, and one Sell recommendation, and an average target price of $2.00.
• Lufax shares have traded between $1.20 and $4.57 over the past year, while institutional investors and hedge funds own approximately 69.14% of the company.

Lufax (NYSE:LU - Get Free Report) was upgraded by equities research analysts at JPMorgan Chase & Co. from a "neutral" rating to an "overweight" rating in a report released on Tuesday,Benzinga reports. The brokerage presently has a $2.00 price target on the stock. JPMorgan Chase & Co.'s price target points to a potential upside of 38.41% from the stock's current price.

A number of other analysts also recently issued reports on the company. Wall Street Zen raised Lufax from a "sell" rating to a "hold" rating in a research report on Saturday, May 9th. Weiss Ratings reissued a "sell (d)" rating on shares of Lufax in a research report on Monday, May 18th. Finally, Zacks Research upgraded Lufax to a "hold" rating in a research note on Tuesday, April 21st. One equities research analyst has rated the stock with a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of "Hold" and an average target price of $2.00.

Lufax Stock Performance

Shares of Lufax stock opened at $1.45 on Tuesday. The firm has a market cap of $1.25 billion, a PE ratio of -1.85 and a beta of 0.79. The business's 50 day simple moving average is $1.43 and its 200 day simple moving average is $2.00. Lufax has a 52-week low of $1.20 and a 52-week high of $4.57.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the company. Fulton Bank N.A. acquired a new stake in Lufax in the 1st quarter valued at about $27,000. Scientech Research LLC bought a new stake in Lufax in the third quarter valued at approximately $46,000. Hudson Bay Capital Management LP acquired a new stake in shares of Lufax in the second quarter valued at approximately $58,000. Headlands Technologies LLC boosted its stake in shares of Lufax by 245.1% during the 2nd quarter. Headlands Technologies LLC now owns 26,928 shares of the company's stock worth $75,000 after acquiring an additional 19,126 shares during the period. Finally, Virtu Financial LLC bought a new position in shares of Lufax during the 4th quarter worth approximately $96,000. 69.14% of the stock is currently owned by institutional investors and hedge funds.

About Lufax

Lufax NYSE: LU is a leading provider of online wealth management and personal finance services in China. Established in 2011 as a spin-off from Ping An Insurance (Group) Company of China, Lufax has developed a digital ecosystem designed to match retail and institutional investors with a diverse array of financial products. The company went public on the New York Stock Exchange in October 2020, underscoring its ambition to expand beyond its domestic market.

The firm's core business activities include peer-to-peer lending, consumer finance, supply chain and small-business lending, as well as online asset management.

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