A value compounder
CGS CIMB believe iFAST’s wealth management business is underappreciated and hope to shed light on its respective businesses with their new SOP valuation.
They estimate iFAST’s core wealth management business grew by 38% yoy in FY24 and will grow at a strong 33% CAGR over FY25F-27F.
They reiterate Add with a higher TP of S$11.70 and bull/bear case scenario TPs of S$15.20 (54% upside) and S$8.20 (16.4% downside).
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bullrider_21
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IPMAN_1 : As i have already posted before a few weeks ago abt my opinion on STI currently is too PRICEY! Most stocks already stagnants for weeks. Its Price cant go up anymore! CIMB believes Ifast can go up but i don’t believe. lets see who is wrong or right abt Ifast..haha…