Singapore Banking Stocks - UOB Kay Hian 2025-04-07: Downgrade To UNDERWEIGHT. US Self-inflicted Slowdown Could Spiral Out Of Control

• Downgrade Singapore banks to UNDERWEIGHT. SELL DBS (Target Price: S$40.00). HOLD OCBC (Target Price: S$16.85). We cut our 2026 net profit forecasts for DBS and OCBC by 13% after factoring in higher credit costs and anaemic loan growth.
• - Read this at SGinvestors.io -

Nasty Liberation Day a negative surprise.

• - Read this at SGinvestors.io -
• According to Bloomberg, the US’ average effective tariff rate has shot up by 10 times from 2.3% in 2024 to 23% in 2025%.

Trading partners are retaliating.

• Read more at SGinvestors.io.

Above is an excerpt from a report by UOB Kay Hian Research.
Clients of UOB Kay Hian may be the first to access the full PDF report @ https://www.utrade.com.sg/.

More reports on banking & finance sector:
Analyst Reports on Singapore Banking & Finance Sector

Read also:
Analyst Reports on DBS Group
Analyst Reports on OCBC Bank
Analyst Reports on United Overseas Bank (UOB)