0958 GMT - United Overseas Bank's near-term outlook appears cloudy, turning CGS International bearish on the Singapore lender. CGS International's Tay Wee Kuang and Lim Siew Khee continue to expect UOB's FY 2025 credit costs to remain elevated, they say in a note, as the Singaporean bank has taken excess buffers that could result in earnings uncertainty in 2H. The analysts cut their FY 2025-FY 2027 EPS forecasts by 2.5%-5.8% to reflect lower loans growth and net interest margins, based on the company's guidance. CGS International downgrades its rating to hold from add and trims its target price to S$38.30 from S$38.60. Shares closed 0.1% higher at S$35.75. (megan.cheah@wsj.com)
(END) Dow Jones Newswires
August 11, 2025 05:58 ET (09:58 GMT)
Copyright (c) 2025 Dow Jones & Company, Inc.
Comments