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Broker's take: Citi slashes target prices for Singapore banks on Fed rate cut
CITI Research on Wednesday slashed its target prices for Singapore banks, and shaved down its earnings estimates for the trio by 4-8 per cent after the US Federal Reserve made an emergency rate cut of half a percentage point overnight in response to the Covid-19 outbreak.
PHOTO: ST FILE
CITI Research on Wednesday slashed its target prices for Singapore banks, and shaved down its earnings estimates for the trio by 4-8 per cent after the US Federal Reserve made an emergency rate cut of half a percentage point overnight in response to the Covid-19 outbreak.
Citi's move...
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