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Analysts upbeat on S'pore banks ahead of results

HSBC upgrades OCBC to 'overweight', citing clearer earnings outlook; Jefferies raises target price for DBS

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Published Thu, Oct 9, 2014 · 09:50 PM

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    ANALYSTS are showing Singapore banks positive interest ahead of their results announcements, lighting the candles and putting on soft music with an upgrade and a raised target on Thursday.

    HSBC upgraded OCBC Bank to "overweight" from "neutral" and raised its target price for the stock to S$13 from S$10.25, citing recent stock underperformance and a better earnings outlook.

    Jefferies maintained its "buy" call on DBS Group Holdings, but lifted its target price to S$21 from S$18.24 on the back of the lender's diversified business segments and balance sheet.

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