SINGAPORE (Oct 10): UOB Kay Hian is keeping its “buy” call on Oversea-Chinese Banking Corporation (OCBC) with a target price of $13.38 given expectations the bank could report steady earnings growth for the third quarter of 2017.
“We forecast net profit at $958 million for 3Q17, up 1.6% year-on-year,” says UOB analyst Jonathan Koh in a report on Friday. “We foresee healthy loan growth in 3Q17 driven by trade finance, residential mortgages and investment loans for overseas expansion.”
The report comes ahead of the release of OCBC’s 3Q17 financial results, which is expected to be announced before market opens on Oct 26.
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