FY21 Result: The wealth manager came into today’s result at 52 week highs so a fair amount was baked int0 the cake, and while the result was above market expectations on both revenue & profit lines + a better than expected dividend, it was not enough to entice new buyers post an early pop higher, a big reversal with the stock trading down ~10% at time of writing. We’re surprised by the trading action in IFL today – simply a huge intra-day move, there’s something we’re missing here…
MM remains bullish IFL targeting ~$5.50
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