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Citi cuts iFast target price on dilutive M&A, possible Q4 earnings miss
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Published Thu, Jan 27, 2022 · 09:50 PM
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Singapore
WEALTH management platform iFast Corporation is likely a risky investment due to its dilutive merger and acquisition plans, and uncertainty surrounding its near-term earnings, said Citi Research.
The research team cut its target price for iFast to S$6.20 from S$7.50, to factor in the loss-making financials of the company's recent acquisition, BFC Bank.
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