Futu Holdings_ Conference takeaways and 4Q preview. Thu Feb 13 2025

J P M O R G A N Asia Pacific Equity Research 13 February 2025 Futu Holdings Conference takeaways and 4Q preview Futu's share price rallied by 45% in past month (vs NASDAQ +2% y/y) and is trading at 16.5x 25e PE, above mean FY1 PE (since 4Q21) of 14.1x. Given the strong performance, there could be some profit taking near term; nonetheless, we stay positive on the name for the following reasons. First, we expect robust revenue and profit growth in 4Q24, driven by strong paying client expansion and an increase ...