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Analysts still positive on OCBC as FY2021 earnings perform below expectations

Felicia Tan
Felicia Tan3/1/2022 01:19 PM GMT+08  • 8 min read
Analysts still positive on OCBC as FY2021 earnings perform below expectations
Analysts have estimated OCBC's TPs to range from $14.20 to $15.82.
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Analysts from CGS-CIMB Research, DBS Group Research, PhillipCapital, RHB Group Research and UOB Kay Hian are recommending investors continue to add their positions in Oversea-Chinese Banking Corporation (OCBC) even after the bank’s net profit of $973 million for the 4QFY2021 stood below consensus’ estimates by 18%.

The miss was due to the heftier 44 basis points (bp) of credit costs, and above the 25 basis points CGS-CIMB analysts Andrea Choong and Lim Siew Khee expected.

According to their estimates, DBS’s 4QFY2021 net profit missed their estimates by 14%.

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