RHB Group Research analysts are maintaining “buy” on OCBC with a $13.90 target price, pointing to “tempered” FY2022 loan growth target
They add: “Management remains positive on FY2022 outlook. Still, cognisant that headwinds from the Russia-Ukraine war, supply chain disruptions and recessionary risk have dented investor sentiment, loan growth guidance is tweaked to mid-single digit (from high-to-mid single digit). In our view, this is achievable given year-to-date (YTD) to June growth of 3% or 6% annualised.”
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