iFAST Corporation Ltd (AIY – Research Report), the Technology sector company, was revisited by a Wall Street analyst today. Analyst Heidi Mo from UOB Kay Hian upgraded the rating on the stock to a Buy and gave it a S$7.28 price target.
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Heidi Mo’s rating is based on the strong performance and growth prospects of iFAST Corporation Ltd. The company reported a 31% year-over-year increase in earnings for the first quarter of 2025, driven by a 24% rise in revenue from its core wealth management platform and a profit turnaround at its UK-based iFAST Global Bank. Despite slightly missing expectations due to higher operating expenses in its Hong Kong operations, the company continues to show robust growth.
Additionally, iFAST’s assets under administration reached a record S$25.7 billion, supported by significant net inflows, with Singapore being a key contributor. The proposed higher interim dividend reflects the company’s confidence in its financial health. The turnaround of iFAST Global Bank, which achieved a net profit after previous losses, further supports the positive outlook. These factors combined justify the Buy rating with a target price of S$7.28.
According to TipRanks, Mo is ranked #2834 out of 9371 analysts.
In another report released today, DBS also maintained a Buy rating on the stock with a S$9.22 price target.