Futu Holdings price target raised to $270 from $200 at JPMorgan

JPMorgan raised the firm’s price target on Futu Holdings (FUTU) to $270 from $200 and keeps an Overweight rating on the shares. The firm increased estimates following the company’s “strong” Q2 report. Futu has posted “significant growth” in clients, assets under management, revenue, and profits since 2024 but the shares are trading at a steep discount to peers, the analyst tells investors in a research note. JPMorgan believes an easing of the regulatory overhang will narrow Futu’s valuation discount.