IFL has caught our attention again after yesterday’s strong price performance following a number of research houses upgrading the earnings outlook.
The upgrades are supported by aggressive cost savings, post the acquisition of the ANZ advice business.
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We’re not convinced IFL is a long-term buy and hold but with the recent upgrades we may see buying momentum create another leg higher in the “higher low” price formation.
We recommend running a stop loss below the recent low.
