On June 6th,$富途控股(FUTU.US)$, a leading tech-driven online brokerage and wealth management platform, reported solid performance for the quarter ended March 31, 2022, with US$209.5 million in total revenues, and US$79.4 million non-GAAP adjusted net income.

On June 7th, JP Morgan released a research report and raised the firm's price target on Futu Holdings to $55 from $50 and keeps an Overweight rating on the shares.

Futu's Q1 result was better than expected, and earnings call takeaways are "net positive," JP Morgan analyst Katherine Lei tells investors in a research note. 

The analyst expects a "strong share price recovery" in 2H 2022, saying that despite volatile markets, Futu's client growth remained steady across major markets.