United Overseas Bank upgraded to Buy from Neutral at Goldman Sachs

Written by Emily J. Thompson, Senior Investment Analyst

Updated: Nov 10 2024

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Goldman Sachs Upgrade: Goldman Sachs has upgraded United Overseas Bank from Neutral to Buy, raising the price target to S$41 from S$35.10, anticipating a 3% CAGR in operating income growth from 2023 to 2026.
Capital Returns Commitment: The bank is now better positioned for capital returns post-BASEL 4 implementation, planning to return S$3B to shareholders through dividends and share buybacks, with Goldman projecting a 15% upside to the new price target.

About the author

Emily J. Thompson

Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.