Stock Name: OCBC Bank
Company Name: OVERSEA-CHINESE BANKING CORP
Company Name: OVERSEA-CHINESE BANKING CORP
| Research House: RHB | Price Call: BUY | Target Price: 11.70 |
SINGAPORE (Dec 31): RHB has upgraded OCBC to "buy" from "neutral" and lifted its price target to $11.70 from $10.55 after raising its FY2015 and FY2016 earnings forecasts by 11% to factor in expected higher contributions from Wing Hang Bank and Bank of Ningbo.
The integration of OCBC Wing Hang is progressing well, and revenue drivers have been identified, according to RHB analyst Fiona Leong.
Areas of focus include selling treasury products to SME customers and structured products to retail clients; and introducing wealth management and advisory services.
No comments:
Post a Comment