0252 GMT - United Overseas Bank's earnings growth could come in at mid single digits for 2025 compared with consensus expectations for flat or marginally positive earnings, amid an improved net interest margin outlook, says OCBC Investment Research. Interest rates are likely to remain high this year, which will augur well for NIM, Singapore strategist Carmen Lee writes in a note. Markets have yet to price in a better NIM environment even as expectations of more aggressive rate cuts have been scaled back, Lee adds. However, OCBC lowers the stock's rating to hold from buy given UOB's strong share-price outperformance in the past two months. It maintains a fair value estimate of S$37.50 on the shares, which are at S$36.85. (amanda.lee@wsj.com)
(END) Dow Jones Newswires
January 12, 2025 21:52 ET (02:52 GMT)
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