iFAST Corporation is on track to report record 4QFY2020 earnings with net profit rising 140% y-o-y, says CGS-CIMB Research. This is despite missing out on a digital wholesale banking licence in Singapore last month.

CGS-CIMB analyst Andrea Choong is reiterating “hold” on the wealth management company with a raised target price of $4.15 from $3.41. 

“We believe that growth prospects for FinTech and wealth management platform operators such as iFAST Corporation will remain firm going into FY2021F,” says Choong in a Jan 13 note. 

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