OCBC expected to report solid set of 4Q results, says UOB

SINGAPORE (Jan 17): UOB Kay Hian is maintaining its “buy” call on OCBC with a target price of $14.88 given the bank is expected to report a “solid set of results” for 4Q17.

The research house is forecasting net profit at $923 million, up 17% y-o-y but down 13% q-o-q as 3Q17 earnings were previously boosted by robust contribution from its insurance business and moderation in credit costs.