Analysts raise target prices, dividend estimates on DBS, predicting higher valuation ahead
Maybank says DBS is giving significant visibility on capital returns
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ANALYSTS have raised their target prices for DBS after the lender on Monday (Feb 10) posted full-year net profit that reached a record high. This points to potentially higher valuations and the bank dishing out more dividends ahead.
Maybank Securities raised its target price for DBS by nearly 10 per cent to S$51.37 from S$46.91, with a “buy” rating. RHB on Tuesday maintained its “buy” rating, and raised its target price by nearly 15 per cent to S$51.20 from S$44.70.
Shares of DBS closed S$0.53 or 1.2 per cent lower at S$44.85 on Tuesday.
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