Following the release of iFAST Corporation’s 1QFY2021 results ended March, the company is “rising in strength”, says CGS-CIMB Research analyst Andrea Choong in an Apr 23 note. 

Choong is upgrading iFAST to “add” from “hold”, with a raised target price of $8 from $5.67. 

“1QFY2021 net profit was a beat due to robust stock and ETF trading volumes… iFAST has recorded sequentially higher q-o-q net profit since 2019. We think sales volumes will sustain as regional operations scale up,” writes Choong.

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