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Broker's take: Citi slashes target prices for Singapore banks on Fed rate cut

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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 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...