DBS Group Research hiked iFast's target price to S$10.88 from S$10.23, while reiterating its "buy" call, on Asia's rising wealth as well as the company's expanding wealth management platform and product suite.
The company's ePension division -- described as its key growth driver for 2025 and 2026 -- was progressing well, said the research house in a report on Monday (Mar 10).
IFast's core wealth management platform was also steadily advancing with record-high assets under administration (AUA) of S$25 billion, up 26.2 per cent year on year (yoy) as at end-2024, while its net margin continued to improve, said analyst Ling Lee Keng.
She noted that iFast set a "high" AUA target of S$100 billion by 2028 to 2030, and DBS has assumed conservative long-term growth of 20 per cent.
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