Futu Holdings raised target to $184-$245, citing 56% upside after strong Q2 growth and overseas expansion.

Futu Holdings' price target was raised to a range of $184 to $245 per share, with a midpoint of $192, indicating a potential 56% increase from current levels. The upgrade follows better-than-expected Q2 results, including 35.6% year-over-year revenue growth driven by strong trading volume, margin financing, and corporate services. The company's expansion in Southeast Asia and the US, especially in Singapore and Malaysia, is offsetting challenges in China and improving account quality. Futu trades at a forward earnings multiple of 10x, lower than peers, supported by fast-growing enterprise services and overseas profitability.