CGS-CIMB analyst Wee Kuang Tay upgraded the rating on OCBC to a Buy on November 7, setting a price target of S$19.50.
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Wee Kuang Tay has given his Buy rating due to a combination of factors that highlight OCBC’s strong financial performance and strategic initiatives. The bank reported a higher-than-expected profit for the third quarter of 2025, driven by significant net new money inflows into its wealth management franchise, which contributed to record-high fees and trading income. This growth in non-interest income is supported by OCBC’s One Group strategy, which effectively caters to various wealth customer segments.
Additionally, OCBC’s streamlined guidance for FY25F, including a lower credit cost and a stable loan growth outlook, suggests a well-managed financial position. The bank’s capital return exercise, which includes special dividends and potential share buybacks, indicates a commitment to returning value to shareholders. These factors, along with the potential for resilient net interest margins and continued non-interest income growth, underpin the positive outlook for OCBC’s stock, leading to the upgrade to a Buy rating.
In another report released today, DBS also upgraded the stock to a Buy with a S$19.80 price target.
OVCHF’s price has also changed slightly for the past six months – from S$16.270 to S$17.780, which is a 9.28% increase.