Brokers' take

United Overseas Bank | Hold

Target price: S$16.00

Feb 17 close: S$17.20

Jefferies Equity Research, Feb 17

Though full year results were ahead of our estimates, concerns persist around asset quality, cost run rates and impact on capital ratios from higher risk weightings. Stressed exposure is in O&G - about 20 per cent of exposure or S$2.4 billion. Assuming oil prices stay subdued, it is quite likely non-performing assets from these exposures will show up in subsequent quarters. Gu…