OneConnect Financial Technology Co. (NASDAQ:OCFT) Given Consensus Recommendation of “Strong Buy” by Brokerages

Shares of OneConnect Financial Technology Co. (NASDAQ:OCFT) have received a consensus broker rating score of 1.00 (Strong Buy) from the two analysts that provide coverage for the company, Zacks Investment Research reports. Two investment analysts have rated the stock with a strong buy recommendation.

Analysts have set a 12-month consensus price target of $16.50 for the company and are predicting that the company will post ($0.19) earnings per share for the current quarter, according to Zacks. Zacks has also given OneConnect Financial Technology an industry rank of 162 out of 255 based on the ratings given to related companies.

A number of equities analysts recently issued reports on the stock. Goldman Sachs Group assumed coverage on shares of OneConnect Financial Technology in a research report on Tuesday, January 7th. They set a “buy” rating and a $15.90 target price on the stock. Morgan Stanley assumed coverage on shares of OneConnect Financial Technology in a research report on Tuesday, January 7th. They set an “overweight” rating and a $16.00 target price on the stock. Bank of America assumed coverage on shares of OneConnect Financial Technology in a research report on Tuesday, January 7th. They set a “buy” rating and a $18.00 target price on the stock. Finally, KeyCorp assumed coverage on shares of OneConnect Financial Technology in a research report on Tuesday, January 7th. They set an “overweight” rating and a $15.00 target price on the stock.

OCFT stock traded up $1.61 on Wednesday, reaching $14.09. 748,100 shares of the company were exchanged, compared to its average volume of 757,860. OneConnect Financial Technology has a 12 month low of $9.43 and a 12 month high of $16.60.

OneConnect Financial Technology Company Profile

OneConnect Financial Technology Co, Ltd. operates as a technology-as-a-service platform for financial institutions in the People's Republic of China. The company provides cloud-platform-based Fintech solutions, and online information and operating support services. It offers digital retail banking, small and medium enterprises (SME) financing and services, retail banking risk-management, SME banking risk management, auto insurance operations and services, asset management, asset-liability management, artificial intelligence customer service, core systems, and insurance sales management solutions.

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