OCBC Buy Case Bolstered by Share Price, Profit Outlook -- Market Talk
OCBC Buy Case Bolstered by Share Price, Profit Outlook -- Market Talk
0808 GMT - Oversea-Chinese Banking Corp. continues to be a buy for RHB Research, which notes multiple positive share-price catalysts for the lender and solid profit outlook. RHB expects OCBC's stock to get a boost from the improving macro outlook, rising dividends and the recovery of its net interest margin, which the broker projects will happen in later 2022. It notes that OCBC's 3Q net profit grew 19% on year to S$1.22 billion, as a pickup in loan growth momentum and lower allowances helped. These factors should persist, prompting the broker to increase its net profit estimates for OCBC by 2%-3% for 2021-2023 and raise the stock's target price to S$15.10 from S$14.30. Shares rise 0.8% to S$11.97. (yongchang.chin@wsj.com)
0808GMT-華僑銀行(Overseas-Chinese Banking Corp.)繼續收購RHB Research，該公司指出，對這家銀行來説，多個積極的股價催化劑和穩健的利潤前景。RHB預計，華僑銀行的股價將受到宏觀前景改善、股息上升以及淨息差回升的提振，該經紀商預計，這將在2022年晚些時候發生。它指出，華僑銀行第三季度淨利潤同比增長19%，至12.2億新元，這得益於貸款增長勢頭的增強和較低的津貼。這些因素應該會持續，促使該經紀商將華僑銀行2021-2023年淨利預估上調2%-3%，並將該股目標價從14.30新元上調至15.10新元。股價上漲0.8%，至11.97新元。(yongchang.chin@wsj.com)