share_log

China Renaissance added Futu in their Model Portfolio with TP of $56.4

Moomoo News ·  Sep 8, 2022 05:02

On September 7, China Renaissancereleased a research report on their Model Portfolio adjustments.

China Renaissance added China Mengniu Dairy, BeiGene and Futu, while they removed CMB-A, Midea, East Money, Anta, WuXi AppTec, Wingtech, Full Truck Alliance, Qi An Xin, Anke Biotech, RLX Tech and Weimob.

China Renaissance's analyst Cindy Wang considers FUTU:

• Benefiting from self-clearing of US stocks and interest rate hikes.

• Client assets and MFSL balance remain solid despite weak market performance.

• It is making market share gains in Hong Kong amid industry consolidation.

• Target price is based on 22.9x 2022E P/E.

China Renaissance remained medium-term bullish on Chinese equities; COVID resurgence and geopolitical uncertainties could lead to continued near-term volatility. 

Disclaimer: This content is for informational and educational purposes only and does not constitute a recommendation or endorsement of any specific investment or investment strategy. Read more
    Write a comment