Morgan Stanley has upgraded Futu Holdings Limited to overweight from equal weight, citing bullish sentiment on the Asia brokerage and wealth management company's long-term growth potential from overseas. Futu reported a strong Q3 performance with total revenues increasing 29.6% year-over-year to HK$3,436.1 million (US$442.3 million) and net income rising 20.9% year-over-year to HK$1,319.2 million (US$169.8 million). The company also declared a special dividend of $0.25 per share ($2 per ADS) to stockholders of record on December 6, 2024. Despite these positive results, Futu shares fell 1.61% premarket. The total number of paying clients reached 2.20 million, and client assets surged to $89.20 billion, driven by global expansion and growth in new markets like Japan and Canada. Additionally, Futu reported an adjusted EPS of $1.23 and an adjusted net income of $180 million.