0811 GMT - United Overseas Bank's valuation gap with its local peers has become too wide for investors to ignore, supporting RHB Research's buy rating on the Singapore lender. Rising benchmark interest rates are likely to offer an additional boost to Singapore lenders' operating income, which has been carried by noninterest income in recent quarters, RHB Research says in a note. It raises its estimates for UOB's 2027 and 2028 profit after tax and minority interests by 5% and 4%, respectively, citing stronger average asset yields due to the higher benchmark rates. RHB raises its target price to 47.60 Singapore dollars from S$46.60. Shares gain 1.0% to S$43.49.