The latest set of results come broadly in line with expectations, says Guha, although margins continue to underwhelm, in his view.
SINGAPORE (May 6): Jefferies, DBS Vickers Securities and RHB Research are maintaining their “buy” calls on United Overseas Bank (UOB) with the respective price targets of $31, $29.20 and $30.80 following last week’s release of the bank’s 1Q19 earnings, which grew 8% on-year on higher interest income.
In a report last Friday, Jefferies analyst Krishna Guha says he sees more room for UOB’s share price to run on the back of lower credit costs, adequate capitalising and a supportive yield of 4.3%.
