Home Capital Broker's Calls

UOB’s 3Q results above consensus, but no cause for celebration

Michelle Zhu
Michelle Zhu10/31/2016 10:25 AM GMT+08  • 2 min read
UOB’s 3Q results above consensus, but no cause for celebration
Font Resizer
Share to WhatsappShare to FacebookShare to LinkedInMore Share
Scroll to top
Follow us on Facebook and join our Telegram channel for the latest updates.

SINGAPORE (Oct 31): DBS Vickers Securities, OCBC Investment Research and Maybank Kim Eng are maintaining their “hold” calls on United Overseas Banking (UOB) following the release of the group’s 3Q financial results last Friday – even as the bank’s earnings of $791 million came in above the Bloomberg consensus of $771 million.

(See also: UOB’s 3Q earnings fall 7.8% to $791 mil on absence of one-off gain, higher allowances)

While OCBC has lowered its fair value estimate to $18.78 from $19.61 taking into account a “still challenging environment and the prospect of further weakness in collateral value”, DBS and Maybank have raised their target prices to $18.10 (previously $17.70) and $18.36 (previously $18.34) respectively.

For more insights on corporate trends...
Sign In or Create an account to access our premium content.
Subscription Entitlements:
Less than $9 per month
Unlimited access to latest and premium articles
3 Simultaneous logins across all devices
Bonus unlimited access to online articles and virtual newspaper on The Edge Malaysia (single login)
×
Loading next article...
The Edge Singapore
Download The Edge Singapore App
Google playApple store play
Keep updated
Follow our social media
Subscribe to The Edge Singapore
Get credible investing ideas from our in-depth stock analysis, interviews with key executives, corporate movements coverage and their impact on the market.
© 2022 The Edge Publishing Pte Ltd. All rights reserved.
Unlock unlimited access to premium articles with less than $9 per month. Subscribe Now