Analysts upbeat on S'pore banks ahead of results

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.