The vaccine rollout and return to form for dividends will contribute to UOB’s recovery over the course of the year, says OCBC Investment Research. 

OCBC Investment Research is maintaining buy on UOB with a raised fair value of $26.30, implying 1.2x price to book ratio.

“Valuations remain reasonable with the share price trading close to book value and offering an attractive risk reward proposition for patient investors,” says OCBC analysts in a Jan 11 note. 

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