KienBoon
11-20

Can't believe that this Citi analyst downgraded Futu despite the solid 3Q results and special dividend of $2!

It was quite a good dividend indeed. In fact Futu 52wks high was abt $130. It is now only about $88 which is like 30%+ lower.  

It seems unreasonable assessment indeed by Citi.

Didn't see such kind of rating previously for other counters. 

Futu cut to Neutral at Citi even after solid Q3 results; stock slides

KanawatTH/iStock via Getty ImagesFutu Holdings shares retreated 5.8% in Tuesday afternoon trading, even after the Hong Kong-based online brokerage delivered solid Q3 results and declared a special cash dividend. Nonetheless, with the stock up some 60% this year alone, outpacing the stock market by nearly 3x, Citi analyst Judy Zhang downgraded Futu shares to Neutral/High Risk. But the analyst lauded the company's Q3 results, showcasing record-high quarterly profit. Strong trading volume and continued net interest margin expansion during the three-month period drove solid gross profit growth, she highlighted in a note. In conjunction with its quarterly report, Futu said its board approved a special cash dividend of $2 per American Depository Share to holders of ADSs of record as of the close of business on Dec. 6, 2024, payable in U.S. dollars. This kind of payout "is a first in the company’s history vs. previously Futu has relied exclusively on share buybacks for shareholder return p
Futu cut to Neutral at Citi even after solid Q3 results; stock slides

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  • RatedReuben
    ·11-20 20:49
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    she downgraded by increased target price.
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    • KienBoon: 
      something really wrong with this Citi. [Happy] [Spurting]
      11-20 22:04
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  • HeyJJ
    ·11-22 17:32
    Citi wants to buy more ma xD
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