Tan has also warned of “high risk” when trading iFast shares, a label that has stuck since the Mainboard-listed company announced plans to acquire a loss-making UK bank in January 2022.
Citi Research has discontinued its coverage of iFast, more than two years after going against consensus calls and issuing “sell” on what was then Singapore’s best-performing stock.
Citi Research analyst Tan Yong Hong’s last report, from October 2023, maintains the house’s “sell” call and $3.70 target price, reiterating that the wealth management platform’s underlying core business remains soft.
