ifast's strong assets-under-administration momentum is likely continuing, UOB Kay Hian analysts say in a research report. The wealth-management fintech platform's AUA reached a record high of S$36.1 billion as at end-June, the analysts note.
The company has reaffirmed its 2030 target of S$100 billion of AUA, with growth skewing more toward the U.K. and Hong Kong.
Additionally, all 12 trustees and 24 schemes are now onboarded to iFAST's Hong Kong Pension platform as at end-April, which is expected to contribute positively to revenue through 2030. The brokerage raises the stock's target price to S$12.18 from S$11.77, with an unchanged buy rating.
iFast stock jumped 3% on the news.
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