Zacks: Brokerages Set $13.00 Price Target for Weidai Ltd (WEI)

Shares of Weidai Ltd (NYSE:WEI) have been given a consensus broker rating score of 1.00 (Strong Buy) from the two brokers that cover the stock, Zacks Investment Research reports. Two investment analysts have rated the stock with a strong buy rating.

Brokers have set a 1 year consensus price target of $13.00 for the company, according to Zacks. Zacks has also given Weidai an industry rank of 191 out of 256 based on the ratings given to related companies.

Several brokerages recently weighed in on WEI. Citigroup began coverage on Weidai in a report on Friday, December 14th. They issued a “buy” rating for the company. Morgan Stanley initiated coverage on Weidai in a research report on Tuesday, December 11th. They issued a “buy” rating and a $13.00 target price for the company.

Shares of WEI stock opened at $9.45 on Friday. Weidai has a 52 week low of $9.14 and a 52 week high of $10.89.

Weidai Company Profile

Weidai Ltd., through its subsidiaries, provides auto-backed financing solutions in the People's Republic of China. Its auto-backed financing platform connects borrowers primarily mall and micro enterprise owners with online investors and institutional funding partners. The company was founded in 2011 and is headquartered in Hangzhou, the People's Republic of China.

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