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BoaA maintains “Buy” rating on Futu Holdings, raises target price to $81.00
On May 14, Bank of America released a research report, optimistic about $Futu Futu Holdings Ltd. (FUTU.US)'s customer growth in the first quarter of '24, and raised the target price from $62.80 to $81.00. Bank of America pointed out the following highlights of Futu: Bank of America expects strong growth in new paying customers in the first quarter of '24, driven by improved market sentiment and a strong start in the Malaysian market (Bank of America expected 136,000; Visible Alpha [VA] agreed forecast was 84,000). Bank of America expects revenue growth of 9% month-on-month in the first quarter of '24 to reach HK$2.6 billion, GA
Futu to Report First Quarter 2024 Financial Results on May 28, 2024
UBS maintains“Buy”rating on Futu Holdings, raises target price to $84.00
On May 13, UBS released a research report, optimistic about Futu's overseas expansion and raised the target price from $74.00 to $84.00. According to UBS, Futu has the following highlights: 2024 first quarter results forecast: UBS expects FUTU to release the first quarter 2024 results at the end of May. UBS expects net profit for the first quarter to be HK$981 million (up 12% month-on-month and down 18% year-on-year), 4% lower than Visible Alpha's agreed forecast. The main reasons for the year-on-year decline are: (1) increased costs of the two financial services; (2) sales and marketing expenses due to rapid expansion of overseas business
Futu Announces the Number of Its Clients in Malaysia Has Surpassed 100,000
Futu Holdings Limited (“Futu” or the “Company”) (Nasdaq: FUTU), a leading tech-driven online brokerage and wealth management platform, today announced the number of its clients in Malaysia has surpassed 100,000 on April 15, 2024. Futu officially launched its brokerage business in Malaysia on February 26, 2024.
Updated--UBS maintains a "Buy" rating on Futu Holdings with a target price of $70.00
On March 16, UBS released a research report to maintain Futu Holdings Ltd. Holdings' “buy” rating and raise the target price to $70 (previously $67).
Updated--JPM downgraded FUTU to Neutral and adjusted its target price to $62
On March 15, JPM updated a research report, downgraded Futu to neutral rating with a $62 price target. JPM believes the current price is fair and upside is limited until Futu shows a solid record of monetizing overseas expansion and product diversification.
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