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This bank just got an upgrade on its recent share price dip. Why?

Michelle Zhu
Michelle Zhu9/14/2017 11:15 AM GMT+08  • 3 min read
This bank just got an upgrade on its recent share price dip. Why?
SINGAPORE (Sept 14): OCBC has upgraded its rating on DBS Group to “buy” from “hold” with an unchanged fair value estimate of $22.50 due to the recent drop in its share price. 
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SINGAPORE (Sept 14): OCBC has upgraded its rating on DBS Group to “buy” from “hold” with an unchanged fair value estimate of $22.50 due to the recent drop in its share price.

This comes after the stock fell from its recent high of $22.25 in the past two months to close at a low of $20.38 yesterday. This translates to a share price decline of 8.4%, meaning about $4.8 billion of market value has been wiped off.

In a Thursday report, lead analyst Carmen Lee observes that DBS’s share price is up 17.5% year to date despite coming off from the high.

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