iFast shows how fast brokers can flip on a stock
By Stocks N Savings  •  April 26, 2022
I came across an article on The Edge Singapore titled, "DBS downgrades iFAST to 'hold' with lack of near-term catalysts; Citi keeps 'sell' call with lower TP of $4.20" [news]. I remembered iFast, the fintech company because it was touted by a members only website as an example of their excellent stock picks. I also remembered some months ago how brokers were fawning over the company, EXCEPT Citi. Citi Research analysts were the only ones who dared to stand against the crowd and recommended a "SELL". I was quite impressed with their guts. How fast (no pun intended) the company's fortune has turned. DBS has changed their recommendation to "HOLD" and slashed their Target Price (TP) from $8.75 to $5.42. That is an abrupt 38 percent drop. At time of writing, Jefferies also cut their TP from $6.30 to $4.60, a 27 percent downward adjustment. And I suspect more broker analysts will be pushing out changes to their...
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By Stocks N Savings
SS is a wage slave in his early forties. He works in the information technology industry. (Technically, his employer has been operating a cloud-based Software as a Service (SaaS) platform long before the world has heard about the Internet.)

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