BofA initiated coverage of UP Fintech (TIGR) with a Buy rating and $8.86 price target The company is a “key beneficiary” of the “booming” Asia wealth market, the analyst tells investors in a research note. The firm says UP offers competitive products and services in the key markets, while its business model has high operating leverage. The company is introducing a broker business which could drive further revenue upside, contends BofA.
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