Stock Name: OCBC Bank
Company Name: OVERSEA-CHINESE BANKING CORP
Company Name: OVERSEA-CHINESE BANKING CORP
| Research House: TA Securities | Price Call: BUY | Target Price: 11.50 |
SINGAPORE (Oct 30): TA Securities has upgraded Overseas-Chinese Banking Corp to "buy" and raised its price target to $11.50 from $11.20.
It has also increased its forecasts for OCBC's core earnings for FY2014 to FY2016 to factor in "softer-than-expected" overhead expenses and stronger net interest margins.
The acquisition of Wing Hang Bank has helped strengthened OCBC's network and access to affluent customers, high net worth individuals and SME business owners in Greater China, it said.
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