0252 GMT - UOB appears optimistic about its earnings outlook, according to the management, OCBC Investment Research's Carmen Lee says in a research report. For 2025, management is guiding for high single-digit loan growth, double-digit fee growth and cost-to-income ratio to stay at around 41%-42%, the Singapore strategist notes. Management has also guided for 2024 credit costs to stay within its guidance of 25-30 bps, the strategist says. Moreover, given UOB's strong capital position, management is exploring capital management initiatives, the strategist adds. OCBC raises the stock's fair value estimate to S$37.50 from S$33.50 with an unchanged buy rating. Shares are 2.1% higher at S$36.43. (ronnie.harui@wsj.com)
(END) Dow Jones Newswires
November 10, 2024 21:52 ET (02:52 GMT)
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