Bank of the Philippine Islands resumed with a Neutral at Goldman Sachs

Goldman Sachs analyst Melissa Kuang resumed coverage of Bank of the Philippine Islands with a Neutral rating and PHP 115 price target. The firm, which is resuming coverage of a group of ASEAN banks, sees ASEAN banks’ profitability approaching a historical eight-year peak by the first half and is "remaining tactical" given the uncertainties in the U.S. macro outlook.