Analysts raise target prices, dividend estimates on UOB as they get positive on earnings outlook
Maybank forecasts return on equity to increase, thereby driving higher valuations
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ANALYSTS have raised their target prices for UOB after the lender on Wednesday (Feb 19) posted full-year net profit that reached a record of S$6.05 billion.
It also announced a S$3 billion package to distribute surplus capital over the next three years, through special dividends and share buybacks.
Maybank Securities raised its target price for UOB by nearly 15 per cent to S$44.32 from S$38.75, with a “buy” rating. RHB maintained its “buy” rating, and raised its target price to S$41.60 from S$40.20.
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