DBS Group Research analyst Lim Rui Wen has maintained her “buy” calls on UOB and Oversea-Chinese Banking Corporation (OCBC) with higher target prices of $27.60 and $12.50 respectively.

Lim says the higher target prices represent higher 1.04 times FY2022 price-to-book value (P/BV) as she rolls over to higher return on equity (ROE) assumptions in FY2022.

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