Futu Holdings price target raised to $160 from $140 at Morgan Stanley

Morgan Stanley raised the firm’s price target on Futu Holdings (FUTU) to $160 from $140 and keeps an Overweight rating on the shares. Futu has a competitive edge in cryptocurrency due to its trusted brand, one-stop service, along with top class user experience and a full set of licensing, the analyst tells investors in a research note. The firm sees meaningful revenue contribution as the company increases crypto adoption.