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iFast's lack of near-term catalyst spurs downgrades, better prospects seen from Hong Kong

Felicia Tan
Felicia Tan4/28/2022 12:29 PM GMT+08  • 5 min read
iFast's lack of near-term catalyst spurs downgrades, better prospects seen from Hong Kong
Analysts are mixed on iFAST's prospects. Photo: Albert Chua/The Edge Singapore
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As iFast Corp’s share price continues its decline, DBS Group Research analyst Ling Lee Keng has downgraded her recommendation to “hold” with a lower target price of $5.42 from $8.75 previously.

Ling’s report on April 26 is a reversal from her optimistic view just a day earlier.

“After the 1QFY2022 ended March results briefing, the group reiterated its four-year plan but near-term catalysts are lacking,” she writes.

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