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PhillipCapital upgrades DBS to 'accumulate' with higher TP of $29.50 on better credit outlook

Felicia Tan
Felicia Tan • 3 min read
PhillipCapital upgrades DBS to 'accumulate' with higher TP of $29.50 on better credit outlook
PhillipCapital has also upped DBS’s FY2021 earnings estimates by 6%, as it lowers allowances of $1 billion.
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PhillipCapital research analyst Tay Wee Kuang has upgraded his recommendation on DBS Group Holdings to “accumulate” from “neutral” with a higher target price (TP) of $29.50 from $22.60 previously.

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DBS Group Holdings (DBS)
PhillipCapital
Broker's calls
pre-Covid levels
Covid
Monetary Authority of Singapore (MAS)

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