Broker's take: OCBC lowers DBS to 'hold' after post-earnings rally

OCBC Investment Research has downgraded its call on DBS Group Holdings to "hold" with a fair value of $29.18 after the bank's shares gained 3.6 per cent on Monday following better-than-expected first quarter earnings.OCBC Investment Research has downgraded its call on DBS Group Holdings to"hold" with a fair value of $29.18 after the bank's shares gained 3.6 per cent on Monday following better-than-expected first quarter earnings.

Head of research Carmen Lee, noted that following DBS's gains on Monday, the bank's shares are trading close to the research house's fair value for the counter. She added that investors can consider buying shares if DBS's stock price hits S$27.50 or lower.Ms Lee said that the banking sector"has done well in the last month", with the three local banks stocks appreciating at an average of 11.

Ireland Ireland Latest News, Ireland Ireland Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Bancassurance remains core part of OCBC's business, says bank's CEOBANCASSURANCE remains a core part of OCBC Bank's business and is much more than just an insurance operation, chief executive Samuel Tsien said at the bank's annual general meeting on Monday. Read more at The Business Times.
Source: BusinessTimes - 🏆 15. / 51 Read more »

Weak industrial earnings drag Wall Street lowerDow and S&P futures were pressured by a steep fall in industrial company 3M's shares on Thursday, while upbeat results from high-flying companies ...
Source: ChannelNewsAsia - 🏆 6. / 66 Read more »

Tuan Sing Q1 earnings slump 98% on lower operating income, higher costsPROPERTY developer Tuan Sing Holdings on Friday posted a 98 per cent slump in earnings to S$157,000 for its first quarter ended March 31 from S$8.2 million a year ago. Read more at The Business Times.
Source: BusinessTimes - 🏆 15. / 51 Read more »