iFAST's 2025-2026 earnings stand to benefit from two tailwinds, DBS Group Research's Lee Keng Ling says in a research report.
The investment product distribution platform achieved record-high assets under administration of S$25.01 billion as at end-December, with management setting a target to reach S$100 billion by 2028-2030, the analyst notes.
DBS raises its 2025 and 2026 earnings estimates for iFAST by roughly 10% each year as it now assumes higher AUA growth of 20% a year versus the 15% forecast previously.
Higher contributions from iFAST Global Bank are also expected on its improved profitability. DBS raises the stock's target price to S$10.23 from S$9.57 and maintians a buy rating. Shares are 0.6% lower at S$7.82.