CICC released a research report on June 7th to maintain the "outperform" rating of $Futu Holdings Ltd(FUTU.US)$, with a target price of US$ 52.00.
The total revenue of $Futu Holdings Ltd(FUTU.US)$, the parent company of online broker Futu Securities, fell 25.6% YoY to HKD 1.64 billion, exceeding the CICC's estimate by 2.8%; the company's non-GAAP adjusted net profit fell 47.2% to HKD 622 million, exceeding the company's forecast by 6.8%.
Futu Holdings is expected to emerge as a winner during the industry consolidation period, with its international expansion and steady product ecosystem optimization fueling long-term growth, according to CICC. With a target price of US$ 52.00, the stock was held at Outperform.