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UOB valuations & yield still deemed attractive after share price run-up

Michelle Zhu
Michelle Zhu5/6/2019 11:47 AM GMT+08  • 4 min read
UOB valuations & yield still deemed attractive after share price run-up
SINGAPORE (May 6): Jefferies, DBS Vickers Securities and RHB Research are maintaining their “buy” calls on United Overseas Bank (UOB) with the respective price targets of $31, $29.20  and $30.80 following last week’s release of the bank’s 1Q19
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SINGAPORE (May 6): Jefferies, DBS Vickers Securities and RHB Research are maintaining their “buy” calls on United Overseas Bank (UOB) with the respective price targets of $31, $29.20 and $30.80 following last week’s release of the bank’s 1Q19 earnings, which grew 8% on-year on higher interest income.

In a report last Friday, Jefferies analyst Krishna Guha says he sees more room for UOB’s share price to run on the back of lower credit costs, adequate capitalising and a supportive yield of 4.3%.

The latest set of results come broadly in line with expectations, says Guha, although margins continue to underwhelm, in his view.

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