OCBC Bank - Stock calls

Date	Analyst	Company	Last	Target	Call	Valuation
01/03/23	CIMB	OCBC	12.18	13.7	Add
01/04/23	UOB Kay Hian	OCBC	12.24	18.28	Buy
01/05/23	phillip	OCBC	12.29	14.22	Buy
01/05/23	DMG & Partners	OCBC	12.29	15	Buy
01/06/23	UOB Kay Hian	OCBC	12.44	18.32	Buy	GGM, PB1.44x FY23
01/11/23	JPM	OCBC	12.54	14	Overweight
01/20/23	DMG & Partners	OCBC	12.59	15	Buy	GGM, PB1.1x FY23
01/26/23	UOB Kay Hian	OCBC	12.85	17.75	Buy	GGM, PB1.4x FY23
01/31/23	Kim Eng	OCBC	12.99	14.7	Buy
02/01/23	DBS Vickers	OCBC	12.93	15	Buy	GGM, PB1.23x FY23
02/06/23	phillip	OCBC	13	14.22	Buy
02/15/23	DMG & Partners	OCBC	12.97	15	Buy
02/24/23	Lim & Tan	OCBC	12.64	14.88	Buy
02/27/23	UOB Kay Hian	OCBC	12.67	18.25	Buy	GGM, PB1.5x FY23
02/27/23	phillip	OCBC	12.67	14.96	Buy	GGM, PB1.29x FY22
02/27/23	DBS Vickers	OCBC	12.67	14	Buy	GGM, PB1.1x FY23
02/27/23	JPM	OCBC	12.67	13.5	Underweight
03/03/23	CIMB	OCBC	12.43	13.5	Add
03/03/23	Citi Research	OCBC	12.43	14.6	Buy
03/08/23	DMG & Partners	OCBC	12.68	14.8	Buy
03/13/23	Kim Eng	OCBC	12.37	13.58	Hold
03/13/23	Lim & Tan	OCBC	12.37	0	Accumulate
03/15/23	UOB Kay Hian	OCBC	12.07	16.92	Buy	GGM, PB1.39x FY23
03/16/23	CLSA	OCBC	12.27	16.2	Buy	Up from $15.80
03/20/23	phillip	OCBC	12.26	14.22	Buy
04/04/23	UOB Kay Hian	OCBC	12.46	16.92	Buy
04/17/23	UOB Kay Hian	OCBC	12.84	16.8	Buy	GGM, PB1.38x FY23
04/21/23	DBS Vickers	OCBC	12.81	13	Hold
04/21/23	CIMB	OCBC	12.81	13.5	Add
05/08/23	JPM	OCBC	12.65	11.5	Underweight
05/10/23	DBS Vickers	OCBC	12.25	13	Hold
05/10/23	Lim & Tan	OCBC	12.25	14.88	Accumulate
05/11/23	UOB Kay Hian	OCBC	12.32	17.32	Buy	GGM, PB1.42x FY23
05/11/23	CIMB	OCBC	12.32	13.5	Add	GGM
05/11/23	DMG & Partners	OCBC	12.32	14	Buy	GGM, PB1.05x FY23
05/12/23	phillip	OCBC	12.3	14.96	Buy	GGM, PB1.29x FY22
05/18/23	CLSA	OCBC	12.13	16.2	Buy
05/19/23	Citi Research	OCBC	12.14	12.2	Hold
05/19/23	Kim Eng	OCBC	12.14	13.19	Hold
05/31/23	CIMB	OCBC	12.27	13.5	Add
06/12/23	Citi Research	OCBC	12.39	12.5	Hold
07/03/23	phillip	OCBC	12.28	14.96	Buy
07/04/23	DBS Vickers	OCBC	12.31	13	Hold	GGM, PB1x FY24
07/04/23	Citi Research	OCBC	12.31	12.5	Hold
07/05/23	Lim & Tan	OCBC	12.35	14	Accumulate
07/05/23	DMG & Partners	OCBC	12.35	13.2	Neutral	GGM, PB1x FY23
07/06/23	UOB Kay Hian	OCBC	12.23	17.32	Buy	GGM, PB1.42x FY23
07/13/23	UOB Kay Hian	OCBC	12.15	17.5	Buy
07/19/23	Kim Eng	OCBC	12.47	13.19	Hold
07/20/23	Citi Research	OCBC	12.64	12.7	Neutral
08/04/23	DBS Vickers	OCBC	13.04	13	Hold
08/04/23	Lim & Tan	OCBC	13.04	14	Accumulate
08/07/23	UOB Kay Hian	OCBC	13.04	18.22	Buy	GGM, PB1.45x FY24
08/07/23	DMG & Partners	OCBC	13.04	13.7	Neutral	GGM, PB1x FY23
08/07/23	DBS Vickers	OCBC	13.04	13.7	Hold	GGM, PB1x FY24
08/08/23	phillip	OCBC	13.02	14.96	Buy	GGM, PB1.29 FY22
08/08/23	CIMB	OCBC	13.02	14	Add
08/08/23	Citi Research	OCBC	13.02	12.7	Neutral
08/10/23	CLSA	OCBC	13.16	16.2	Overweight
09/04/23	UOB Kay Hian	OCBC	12.55	18.22	Buy	GGM, PB1.45x FY24
09/08/23	phillip	OCBC	12.6	14.96	Buy
09/08/23	Kim Eng	OCBC	12.6	13.6	Hold	DDM
10/02/23	CIMB	OCBC	12.81	14	Add
10/03/23	Citi Research	OCBC	12.8	12.7	Neutral	GGM, PB1x FY24
10/06/23	UOB Kay Hian	OCBC	12.75	18.22	Buy
10/13/23	phillip	OCBC	12.98	14.96	Buy
10/16/23	DBS Vickers	OCBC	12.98	13.19	Hold
10/17/23	DMG & Partners	OCBC	13	13.7	Neutral
10/18/23	UOB Kay Hian	OCBC	13.07	17.65	Buy	GGM, PB1.42x FY24
11/10/23	DBS Vickers	OCBC	13.06	13.7	Hold	GGM, PB1x FY24
11/10/23	Lim & Tan	OCBC	13.06	14.4	Accumulate
11/14/23	UOB Kay Hian	OCBC	12.97	17.35	Buy	GGM, PB1.42x FY24
11/14/23	phillip	OCBC	12.97	14.96	Buy	GGM, PB1.29x FY22
11/15/23	DMG & Partners	OCBC	12.95	13.7	Neutral
11/15/23	Citi Research	OCBC	12.95	13	Neutral
11/15/23	UBS	OCBC	12.95	12.97	Neutral
11/15/23	Kim Eng	OCBC	12.95	13.83	Hold	DDM
12/05/23	UOB Kay Hian	OCBC	12.64	17.35	Buy
01/02/24	UOB Kay Hian	OCBC	13	16.85	Buy
01/08/24	phillip	OCBC	12.97	14.96	Buy
01/22/24	UOB Kay Hian	OCBC	12.91	17	Buy	GGM, PB1.31x FY25, PB1.42x FY24
01/24/24	CIMB	OCBC	12.9	14	Add
01/30/24	DMG & Partners	OCBC	12.88	13.7	Neutral
02/01/24	Lim & Tan	OCBC	12.89	0	Accumulate
02/13/24	DBS Vickers	OCBC	12.95	13.7	Hold	GGM, PB1x FY24
02/19/24	UOB Kay Hian	OCBC	13.26	17	Buy
02/19/24	phillip	OCBC	13.26	14.96	Buy
02/19/24	DMG & Partners	OCBC	13.26	13.4	Neutral
02/28/24	CIMB	OCBC	13.31	14	Add	GGM
02/28/24	Lim & Tan	OCBC	13.31	14.2	Accumulate on weakness
02/29/24	UOB Kay Hian	OCBC	13.31	17.22	Buy	GGM, PB1.31x FY25
02/29/24	DBS Vickers	OCBC	13.31	14	Hold	GGM, PB1x FY24
03/01/24	phillip	OCBC	12.98	14.96	Buy	GGM, PB1.29x FY22
03/11/24	DMG & Partners	OCBC	13.18	13.1	Neutral
03/15/24	CIMB	OCBC	13.34	14	Add

Stock calls for 19 March 2024

Date	Analyst	Company	Last	Target	Call	Valuation
03/19/24	OCBC	Ascendas India Trust	1.02	1.18	Buy
03/19/24	DMG & Partners	Delfi	0.905	1.33	Buy	PER13x FY24
03/19/24	CIMB	Hong Leong Asia	0.605	1	Add	Sum of parts
03/19/24	CIMB	ISDN	0.295	0.32	Hold
03/19/24	DBS Vickers	Manulife US Reit	0.057	0.1	Hold
03/19/24	UOB Kay Hian	SIA	6.36	6.31	Hold	PB1.18x FY25
03/19/24	Lim & Tan	Singapore Post	0.38	0.56	Accumulate
03/19/24	OCBC	Singtel	2.49	3.11	Buy

What will the US Fed do for its March FOMC meeting?

According to the Fedwatch tool, the US Fed is expected to maintain its rates at the current level.

Singapore NODX declined in February 2024.

Year-on-year changes:

February 2024: -0.1%

January 2024: +16.8%

December 2023: -1.5%

November 2023: 1%

October 2023: -3.4%

September 2023: -13.2%

August 2023: -20.1%

July 2023: -20.2%

June 2023: -15.5%

May 2023: -14.7%

April 2023: -9.8%

March 2023: -8.3%

February 2023: -15.6%

January 2023: -25%

December 2022: -20.6%

November 2022: -14.6%

October 2022: -5.6%

September 2022: 3.1%

August 2022: 11.4%

July 2022: 7%

June 2022: 9%

May 2022: 12.4%

April 2022: 6.4%

March 2022: 7.7%

February 2022: 9.5%

January 2022: 17.6%

December 2021: 18.4%

November 2021: 24.2%

October 2021: 17.9%

September 2021: 12.3%

August 2021: 2.7%

July 2021: 12.7%

June 2021: 15.9%

May 2021: 8.8%

April 2021: 6%

March 2021: 12.1%

February 2021: 4.2%

January 2021: 12.8%

December 2020: 6.8%

November 2020: -4.9%

October 2020: -3.1%

September 2020: 5.9%

August 2020: 7.7%

July 2020: 6%

June 2020: 16.1% (Revised to 13.9%)

May 2020: -4.6%

April 2020: 9.7%

March 2020: 17.6%

February 2020: 3% (Revised to 3.1%)

January 2020: - 3.3%

December 2019: 2.4%

November 2019: - 5.9%

October 2019: - 12.3%

September 2019: -8.1%

August 2019: - 8.9%

July 2019: -11.2%

June 2019: -17.3%

May 2019: -15.9%

April 2019: -10%

March 2019: -11.7%

February 2019: 4.9%

January 2019: -10.1%

December 2018: -8.5%

November 2018: -2.6%

October 2018: 8.3%

September 2018: 8.3%

August 2018: 5%

July 2018: 11.8% (Corrected)

June 2018: 1.1%

May 2018: 15.5%

April 2018: 11.8%

March 2018: -2.7%

February 2018: -5.9%

January 2018: 13%

December 2017: 3.1%

November 2017: 9.1%

October 2017: 20.9%

September 2017: -1.1%

August 2017: 16.7%

July 2017: 8.5%

June 2017: 8.2%

May 2017: -1.2%

Apr 2017: -0.7%

Mar 2017: 16.5%

Feb 2017: 21.1%