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Value emerging from UOB now that it trades below $29: OCBC

PC Lee
PC Lee6/13/2018 01:07 PM GMT+08  • 2 min read
Value emerging from UOB now that it trades below $29: OCBC
SINGAPORE (June 13): OCBC Investment Research sees value is emerging from UOB Bank at its current share price of $27.24 with 3.7% yield based on a dividend payout of $1.00.
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SINGAPORE (June 13): OCBC Investment Research sees value is emerging from UOB Bank at its current share price of $27.24 with 3.7% yield based on a dividend payout of $1.00.

In its last report dated May 3, OCBC had downgraded the stock to a “hold”, recommending investors buy the stock at $29.00 or lower. Since then, UOB has dropped below $28.00, down about 7% in the past one month from the recent high of $30.14.

With improving market outlook, lead analyst Carmen Lee is more optimistic about the operating environment for Singapore banks.

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