Futu Holdings price target raised to $176 from $113 at Citi

Citi analyst Judy Zhang raised the firm’s price target on Futu Holdings (FUTU) to $176 from $113 and keeps a Neutral rating on the shares. The firm says Hong Kong’s stablecoin bill and China’s comments on the role of stablecoin in international trade have driven an increase of investor interest for companies with crypto exposure. Futu is positioned to benefit from the increased interest, the analyst tells investors in a research note.