SINGAPORE (Feb 1): OCBC expects DBS Group Holdings to post a good set of 4Q17 results on Feb 8 as momentum appears to be healthy this year after last year’s stellar share gains of between 30%-43% for the three banks.
The research house expects broad-based growth in 2018, and are projecting earnings to go up by 24.9% in FY18 and 10.1% in FY19.
"With the recent re-rating, we have also raised our valuation peg to 1.45 times FY18 book. This increases our fair value estimate to $29.50 from $27.40," says lead analyst Carmen Lee in a Thursday report.
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