CGSI upgrades DBS to ‘add’, raises target price to S$79.50
Brokerage cites best-in-class return on equity and an attractive dividend yield
CGS International upgraded DBS shares to "add" from "hold" and raised its target price to S$79.50 from S$77.10. The brokerage highlighted the bank's "best-in-class" return on equity (ROE) of 20% and an attractive projected dividend yield of 4.8% for FY2027. At Monday's closing price of S$73.36, the revised target price suggests an 8.4% upside potential. DBS shares rose 1% to S$74.65 by 11:30 am on Tuesday, October 13.
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