Futu shares are trading lower after Morgan Stanley downgraded the stock from Equal-Weight to Underweight and lowered its price target from $44 to $34.
Portfolio Pulse from Benzinga Newsdesk
Morgan Stanley downgraded Futu Holdings Ltd. (FUTU) from Equal-Weight to Underweight and lowered its price target from $44 to $34, causing the stock to trade lower.
May 18, 2023 | 5:44 pm
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Futu Holdings Ltd. (FUTU) stock is trading lower after Morgan Stanley downgraded the stock and lowered its price target.
Morgan Stanley's downgrade and lowered price target for Futu Holdings Ltd. (FUTU) directly impacts the stock's short-term performance. The downgrade from Equal-Weight to Underweight indicates a negative outlook on the stock, while the reduced price target from $44 to $34 suggests a lower valuation. This news is likely to cause a decline in the stock price in the short term.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100