Brokers' take

iFAST Corporation | Hold (Downgrade) June 13 close: S$0.955 Target price: S$1.02 UOB Kay Hian Research, June 13

While we think its fundamentals remain intact, much of the positives have been priced in at this level, including the upcoming stock dealing services.

While stocks will give the group an additional income stream in terms of commission, we understand iFAST's focus on stockbroking services is not to maximise non-recurring commission income from short-term trading. Instead, its aim is to provide an integrated wealth management platform to enhance the group's overall platform assets under administration in the long term.