The analysts have a target price of $7.50 for the stock, down from its Jan 7 close price of $7.85.
Citi Research analysts Tan Yong Hong and Robert Kong are recommending investors “sell” FinTech company iFast, citing high risk due to share price volatility and the company’s announcement to acquire a UK bank.
“The acquisition will be immediately dilutive to earnings per share (EPS), as BFC Bank is loss-making and fundraising via debt/capital raise is required,” write Tan and Kong in a Jan 8 note.
