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This bank stock is poised for another year of strong results

Michelle Zhu
Michelle Zhu12/14/2017 10:49 AM GMT+08  • 2 min read
This bank stock is poised for another year of strong results
SINGAPORE (Dec 14): OCBC Investment Research is upgrading its call on DBS Group to “buy” with a higher fair value estimate of $27.40 based on 1.4 times FY18E book while projecting for the group’s earnings to rise 25% in FY18.
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SINGAPORE (Dec 14): OCBC Investment Research is upgrading its call on DBS Group to “buy” with a higher fair value estimate of $27.40 based on 1.4 times FY18E book while projecting for the group’s earnings to rise 25% in FY18.

In a Thursday report, lead analyst Carmen Lee notes that the stock is up 45% in the year to date (YTD), largely contributing to the boost in the Financial Index’s 31% rise for the year.

This is also in line with the outperformance of Asian banks with the gain of 13% YTD based on the MSCI Asia ex-Japan Financial Index, versus just 4% for the MSCI World Financials Index.

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