Morgan Stanley analyst Chiyao Huang has maintained their bullish stance on FUTU stock, giving a Buy rating today.
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Chiyao Huang has given his Buy rating due to a combination of factors that indicate strong growth potential for Futu Holdings. The company is experiencing increased traction in key overseas markets, particularly in Japan, where its market share has risen significantly compared to local competitors. This growth is expected to improve the conversion rate from monthly active users to brokerage clients, aided by the company’s use of AI tools.
Additionally, Futu Holdings is witnessing robust growth in its crypto client base and assets, as evidenced by the significant increase in trading activity on the Hashkey exchange. The company is also projected to see a 10-11% quarter-over-quarter profit growth, driven by client franchise expansion and strong trading volumes in both the Hong Kong and US markets. Overall, these factors contribute to a positive outlook for Futu Holdings, justifying the Buy rating.
According to TipRanks, Huang is a 3-star analyst with an average return of 28.5% and a 77.78% success rate.
In another report released today, Bank of America Securities also reiterated a Buy rating on the stock with a $225.00 price target.