CGSI Downgrades OCBC To ‘Hold’, Reverses TP Increase to $17.20 Ahead of 1QFY2025 Results
CGS International Research analysts think Oversea-Chinese Banking Corporation's earnings growth for the current FY2025 ending Dec 31 are on "shaky ground". In an April 23 note, CGSI analysts Tay Wee Kuang and Lim Siew Khee downgraded OCBC to "hold" from "add" while slashing their target price to $17.20 from $19.50 previously.This is Tay's first research note at CGSI on OCBC, and he takes over from Andrea Choong. Choong and Lim issued a report on OCBC on Feb 26 with an "add" call and a higher ta