Outlook ‘stable’ but ‘unexciting’ for UOB

SINGAPORE (July 29): OCBC and RHB are maintaining their “hold” and “neutral” calls on United Overseas Bank (UOB) with a target prices of $19.61 and $18.85 respectively.

While UOB’s reported net profit of $801 million for 2Q16 was about $99 million higher than the Bloomberg consensus of $702 million, RHB says the results were in line with its expectations. 

(See: OCBC, UOB’s 2Q earnings beat consensus estimates)

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