Futu Holdings: Raises FWD (01828) target price to HKD 40.9, reiterates "Buy" rating.
Fujitsu released a research report stating that it believes the valuation of Fuwai (01828) is attractive, raising the target price from HK$37.4 to HK$40.9, and reiterating the "Buy" rating.
Furui released a research report stating that it finds the valuation of FWD (01828) attractive, raising its target price from HKD 37.4 to HKD 40.9, while maintaining a "Buy" rating. FWD's business grew at an accelerated pace in the first half of the year, with improved gross margins and continued operational leverage, while demand in Hong Kong remained resilient. Although economic fluctuations remain a drag, core business performance exceeded expectations. Among these, FWD's mid-term annualized premiums were 1% higher than the bank's prediction, and the value of new business was 15% higher than expected, with changes in the product mix driving an increase in profit margins.
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