They note that OCBC’s senior management shift happened “in the midst of [the Covid-19] pandemic, which likely led to a focus on initiatives to run the bank rather than manage shareholder returns.”
Analysts from JPMorgan have upgraded their rating on Oversea-Chinese Banking Corporation (OCBC) from “neutral” to “overweight” and raised their target price from $13 to $14.
Analysts Harsh Wardhan Modi, Daniel Andrew Tan and Gaurav Khandelwal write in a Jan 6 report that they expect the bank’s management to clearly communicate their capital allocation policy, during its results announcement for its 4QFY2022 ended 31 Dec, 2022 in mid-February.
