Brokers' take

OCBC | Outperform Target price: S$14.70 Feb 15 close: S$12.78 Credit Suisse, Feb 15

We revise up 2018-2019 net profit estimates marginally, by one per cent, to factor in lower credit cost, given that the group has already cleaned up its troubled offshore support services and vessels loan portfolio.

Our revised target price of S$14.70 a share, against S$12.60 previously, implies a 20 per cent upside. Hence, we upgrade OCBC to an "outperform", from "neutral".