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DBS Group Research analysts Yeo Kee Yan, Janice Chua and Chung Wei Le have lifted their year-end target for the benchmark Straits Times Index (STI) to 3,325, 4.5% higher from their previous estimate of 3,180.

The team’s current estimate is pegged to 13.48 times (+0.25 standard deviation) FY2022 price-to-earnings (P/E).

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