OPR cut seen having little impact on Public Bank

The research house upgraded its call on Public Bank to Hold from Sell, with a raised target price of RM18.10 (from RM16.10).

KUALA LUMPUR: Maybank Investment Bank Research expects the recent overnight policy rate (OPR) cut to have minimal impact on Public Bank’s earnings while it also decides to retain its forecasts.

“Separately, it is highly likely, in our view, that Public Bank’s Day 1 modification loss will come in much lower than anticipated, which would be positive, ” it said yesterday.