Stock Name: DBS
Company Name: DBS GROUP HOLDINGS LTD
Research House: RBS
RBS said it had revised its earnings estimates for DBS’ 2011-2013 financial years by 9.4% given the bank’s solid first quarter results.
Company Name: DBS GROUP HOLDINGS LTD
Research House: RBS
RBS has raised its target price on Singapore’s DBS (DBSM.SI), Southeast Asia’s largest bank, to $18.00 from $16.50 and maintained its buy rating.
DBS posted a record quarterly profit, thanks to falling bad-debt charges and a surge in trading income, and signalled that an erosion in interest rate margins in its core markets may be coming to an end.
DBS posted a record quarterly profit, thanks to falling bad-debt charges and a surge in trading income, and signalled that an erosion in interest rate margins in its core markets may be coming to an end.
RBS said it had revised its earnings estimates for DBS’ 2011-2013 financial years by 9.4% given the bank’s solid first quarter results.
DBS remains its top Singapore bank pick, reflecting the strong revenue trends, improving margins and attractive valuation relative to other lenders under its coverage, RBS said.
By 9:13 a.m., DBS shares were flat at $14.98.
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