Goldman Sachs downgraded United Overseas Bank to Neutral from Buy with a price target of S$32.20, down from S$33.40. United Overseas’ NIM is the least sensitive in its group to rate cuts given its poorer funding franchise, positioning it well for a rate cut cycle, but the firm believes that this has been priced into its valuations.
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>