UOB Kay Hian Research has raised its target price for iFAST Corporation by almost 50% on the financial services company’s record assets under administration (AUA). 

In a July 26 note, UOB Kay Hian Research analyst Clement Ho is maintaining “buy” on iFAST with a raised target price of $11.50 from $7.96 previously. 

Last week, iFAST posted its fifth consecutive quarter of record AUA, growing 57.3% y-o-y and 8.9% q-o-q, with net profit increasing 94.0% y-o-y in 1HFY2021 ended June. 

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