DBS and OCBC, on Nov 5, posted earnings of $1.30 billion and $1.03 billion respectively, beating the brokerage’s and consensus estimates for the quarter.
In a Nov 5 note, CGS-CIMB analysts Andrea Choong and Lim Siew Khee are maintaining their “neutral” call on the Singapore banking sector following the release of their 3QFY2020 results on Nov 4 and 5.
Choong and Lim have also recommended “hold” on DBS and OCBC with target prices of $20.46 and $9.38 respectively, and “add” on UOB, with a target price of $22.52.
