Futu Holdings initiated with an Overweight at Barclays

Barclays analyst Jiong Shao initiated coverage of Futu Holdings (FUTU) with an Overweight rating and $176 price target The firm says the company has been growing its assets under management and revenue by 20%-25% annually over the last three years. Futu is Asia’s leading online broker, the analyst tells investors in a research note. Barclays expects the company’s “strong growth” to continue and accelerate in the next few years.