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Citi reiterates 'sell' on iFast as share price plummets to eight-month low

Jovi Ho
Jovi Ho1/27/2022 11:14 AM GMT+08  • 4 min read
Citi reiterates 'sell' on iFast as share price plummets to eight-month low
“We caution investors against accumulating the stock,” say Citi Research analysts, trimming TP from $7.50 to $6.20 per share.
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Citi Research analysts Tan Yong Hong and Robert Kong continue their “sell” call on FinTech company iFast despite the company’s share price falling below $7 for the first time since May 2021.

Shares in iFast have plummeted from $7.36 a week ago to $6.39 as at 11.02am on Jan 27.

In a Jan 27 note, Tan and Kong reiterate their “sell” recommendation, which demurs from consensus calls. They have further trimmed their target price to $6.20 per share, down from $7.50 in a Jan 8 note.

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