Brokers' take

DBS Group Holdings | Buy Fair value: S$29.50 Feb 1 close: S$ 26.61 OCBC Investment Research, Feb 1

DBS recently touched a new historical high of S$27.40 on Jan 25, up 51 per cent from the 52-week low of S$18.12 in Feb 2017. The bulk of the price gains came about in the last three months, when the re-rating of Asian banks lifted banks' valuations from the trough in 2016.

With healthy economic growth in the Asia-Pacific, we expect DBS to be in a good position to enjoy another year of broad-based fee income growth. Its wealth busin…