Analysts from CGS-CIMB Research, OCBC Investment Research, Maybank Kim Eng, PhillipCapital and RHB Group Research have expressed optimism on United Overseas Bank (UOB) after the bank reported 43% higher earnings of $1.0 billion for the 2QFY2021 on Aug 4.

The analysts from all five brokerages have kept “accumulate”, “add” or “buy” on UOB. Maybank Kim Eng analyst Thilan Wickramasinghe has kept his target price of $29.34 as he sees “cautious resilience” from the bank.

UOB’s profit after tax (PAT) stood in line with his full-year expectations and above that of consensus’ estimates.

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