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'Buy' Singapore's best-performing stock with strong growth momentum ahead: DBS

Jovi Ho
Jovi Ho5/28/2021 3:8 PM GMT+08  • 3 min read
'Buy' Singapore's best-performing stock with strong growth momentum ahead: DBS
“We expect assets under administration (AUA) to grow by 30% in FY2021F and 20% each in FY2022F and FY2023F."
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With iFAST's share price beating all other stocks on the Singapore Exchange (SGX) by surging 160% year-to-date and more than 600% in the last 12 months, DBS Group Research sees strong growth momentum ahead for the company.

In a May 28 note, DBS Group Research analyst Ling Lee Keng is maintaining “buy” on the financial services company, with a raised target price of $10.55 from $7.64 previously.

“We maintain our positive view on iFAST on the back of the strong growth momentum ahead. Earnings for FY2021F/FY2022F are expected to grow 54%/31%,” notes Ling.

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