CLSA analyst Hu Shen upgraded Futu Holdings to Outperform from Underperform with a price target of $65, up from $50. While a further share correction could be possible in the near term, the company’s growth potential in the mid- to long term is promising, the analyst tells investors in a research note. The firm says Futu guided for “robust growth” of 19% in the paying client number in 2024 while its overseas expansion is still a key growth driver.
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
See Insiders’ Hot Stocks on TipRanks >>
Read More on FUTU:
- Futu Holdings downgraded to Neutral at JPMorgan after ‘weak’ Q4 report
- Futu Holdings downgraded to Neutral from Overweight at JPMorgan
- Futu Holdings price target lowered to $75.30 from $76.90 at Citi
- FUTU Earnings: Lower Trading Volumes Hit Q4 Earnings
- Unusually active option classes on open March 14th
