Futu Holdings Limited (FUTU.US) advanced more than 3% on Monday, reaching a price of $156.55. The increase followed an upgrade by Goldman Sachs, which raised its rating for the stock from "Neutral" to "Buy." The firm also increased its 12-month price target to $213.39, implying an approximate 30% upside potential. The upgrade was primarily driven by a more optimistic outlook on the capital market environment and a reassessment of the sustainability of Futu's new client growth and trading activity turnover.
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