UPDATE: CLSA Starts Futu Holdings Limited (FUTU) at Buy (1)

October 17, 2021 6:43 AM EDT
Get Alerts FUTU Hot Sheet
Price: $51.49 -5.44%

Rating Summary:
    5 Buy, 3 Hold, 1 Sell

Rating Trend: Down Down

Today's Overall Ratings:
    Up: 0 | Down: 2 | New: 5
Trade Now! 
Join SI Premium – FREE
(Updated - October 19, 2021 6:57 AM EDT)

CLSA analyst Ethan Wang initiates coverage on Futu Holdings Limited (NASDAQ: FUTU) with a Buy (1) rating and a price target of $110.00.

The analyst comments "Futu is an online Hong Kong broker but serves Mainland users’ need for overseas stock trading. Mainland capital accounts are restricted, but investing across the border is still sizable and Futu is the frontrunner to capture the opportunity. Easier competition in Hong Kong allows it to grab market share locally. Fund sales offer the largest future opportunity and gaining a clearing license in the US should boost its margin business in the near term. Initiate with BUY at a US$110 target price."

For an analyst ratings summary and ratings history on Futu Holdings Limited click here. For more ratings news on Futu Holdings Limited click here.

Shares of Futu Holdings Limited closed at $63.73 yesterday.

You May Also Be Interested In

Related Categories

Analyst Comments, New Coverage