“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.
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.
