0323 GMT - United Overseas Bank's shares have limited potential upside, RHB Research analysts write in a note while maintaining a neutral rating on the stock. The Singapore lender reported a positive set of results for 3Q, with capital as a key highlight, they say. UOB's fully loaded CET-1 ratio is now in line with its peers, the analysts note. Thus, capital management initiatives are in play and the market has reacted positively to this, with the stock rising 7% last Friday after earnings, they say. RHB raises its target price on UOB to S$35.60 from S$32.00 and upgrades its earnings forecasts. Shares are 1.8% higher at S$36.34. (amanda.lee@wsj.com)
(END) Dow Jones Newswires
November 10, 2024 22:24 ET (03:24 GMT)
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