DBS - Stock calls

Date	Analyst	Company	Last	Target	Call	Valuation
04/01/19	UOB Kay Hian	DBS	25.23	28.4	Buy
04/02/19	phillip	DBS	25.59	29	Buy
04/10/19	DMG & Partners	DBS	27	29.6	Buy	PB1.43x FY20
04/11/19	CIMB	DBS	26.97	29	Add
04/22/19	UOB Kay Hian	DBS	27.4	30.3	Buy	GGM, PB1.57x FY19
04/22/19	Kim Eng	DBS	27.4	29.56	Buy
04/29/19	Lim & Tan	DBS	27.41	0	Buy
04/29/19	Citibank	DBS	27.41	31.1	Buy
04/29/19	Jefferies	DBS	27.41	31.5	Buy
04/30/19	Macquarie	DBS	28.4	27	Neutral
04/30/19	phillip	DBS	28.4	29	Accumulate	GGM, PB1.5x FY19
04/30/19	OCBC	DBS	28.4	29.18	Hold	Buy @ $27.50 or lower
04/30/19	CIMB	DBS	28.4	30	Add	GGM, PB1.54x
04/30/19	DMG & Partners	DBS	28.4	30.8	Buy	PB1.5x FY20
04/30/19	Lim & Tan	DBS	28.4	30	Hold
05/02/19	Amfrasers	DBS	28.25	27.7	Hold
05/02/19	Jefferies	DBS	28.25	31.5	Buy	PER13.1x FY20
05/07/19	OCBC	DBS	26.53	27.5	Hold
05/13/19	UOB Kay Hian	DBS	26.55	30.5	Buy
05/13/19	Citibank	DBS	26.55	27	Neutral
05/14/19	DMG & Partners	DBS	26	30.8	Buy	GGM, PB1.5x FY20
05/22/19	CIMB	DBS	25.74	27.64	Hold
05/22/19	Kim Eng	DBS	25.74	29.46	Buy
06/03/19	CIMB	DBS	24.29	27.64	Hold
06/06/19	phillip	DBS	24.27	29	Accumulate
06/13/19	UOB Kay Hian	DBS	24.7	30.5	Buy
06/17/19	Kim Eng	DBS	24.81	29.46	Buy
06/19/19	OCBC	DBS	24.8	29.18	Buy	Buy @ $27.50 or lower
07/01/19	Kim Eng	DBS	25.96	29.46	Buy
07/01/19	UOB Kay Hian	DBS	25.96	30.5	Buy	GGM, PB1.59x FY19
07/02/19	OCBC	DBS	26.6	29.2	Buy	GGM, PB1.4x, PER14.7x
07/03/19	phillip	DBS	26.5	29	Accumulate
07/08/19	DMG & Partners	DBS	25.63	30.8	Buy	PB1.5x FY20
07/12/19	DMG & Partners	DBS	25.61	30.3	Buy	PB1.47x FY20
07/29/19	Lim & Tan	DBS	26.88	0	Buy
07/30/19	DMG & Partners	DBS	26.54	28.3	Hold	GGM, PB1.37x FY20
07/30/19	CIMB	DBS	26.54	27.59	Hold	GGM
07/30/19	Kim Eng	DBS	26.54	28.05	Hold	DDM
07/30/19	OCBC	DBS	26.54	28	Hold
07/30/19	phillip	DBS	26.54	30.9	Accumulate
07/30/19	UOB Kay Hian	DBS	26.54	31.3	Buy
07/31/19	Macquarie	DBS	26.49	25.8	Neutral	PB
07/31/19	phillip	DBS	26.49	27.6	Accumulate	GGM, PB1.4x
08/23/19	DMG & Partners	DBS	24.59	28.3	Neutral
08/29/19	Macquarie	DBS	24.02	25.8	Neutral	PB
09/05/19	phillip	DBS	24.54	27.6	Accumulate
09/06/19	DMG & Partners	DBS	24.63	25.3	Neutral	GGM, PB1.23x FY20
09/26/19	Kim Eng	DBS	24.73	28.05	Hold
09/26/19	Jefferies	DBS	24.73	31	Buy
09/27/19	CIMB	DBS	24.82	27.59	Hold
10/01/19	UOB Kay Hian	DBS	25	31.3	Buy
10/04/19	phillip	DBS	24.57	27.6	Accumulate
10/29/19	UOB Kay Hian	DBS	25.18	29.75	Buy
11/05/19	phillip	DBS	26.13	27.6	Accumulate
11/11/19	DMG & Partners	DBS	26.61	25.3	Neutral	GGM, PB1.23x FY20
11/11/19	Lim & Tan	DBS	26.61	0	Buy on weakness
11/12/19	Macquarie	DBS	26.64	25.8	Neutral	PB
11/12/19	phillip	DBS	26.64	27.3	Accumulate	GGM, PB1.4x
11/12/19	DMG & Partners	DBS	26.64	25.8	Neutral	GGM, PB1.28x FY20
11/12/19	Kim Eng	DBS	26.64	29.92	Buy	DDM
11/12/19	UOB Kay Hian	DBS	26.64	30	Buy
12/02/19	CIMB	DBS	25.25	28.29	Hold
12/02/19	Kim Eng	DBS	25.25	29.92	Buy
12/03/19	DMG & Partners	DBS	25.13	25.8	Neutral
12/04/19	phillip	DBS	24.98	27.3	Accumulate
01/03/20	UOB Kay Hian	DBS	26.11	30	Buy
01/08/20	CIMB	DBS	26.05	28.29	Add
01/08/20	Kim Eng	DBS	26.05	29.92	Buy
01/14/20	DMG & Partners	DBS	26.1	25.8	Neutral	GGM, PB1.28x FY20
02/07/20	UOB Kay Hian	DBS	25.7	28.65	Buy
02/13/20	Lim & Tan	DBS	25.42	0	Buy
02/14/20	CIMB	DBS	25.42	27.09	Add	GGM
02/14/20	UOB Kay Hian	DBS	25.42	28	Buy	GGM, PB1.39x FY20
02/14/20	DMG & Partners	DBS	25.42	24.8	Neutral	GGM, PB1.25x FY20
02/14/20	Kim Eng	DBS	25.42	28.6	Buy
02/14/20	Jefferies	DBS	25.42	28.5	Buy
02/18/20	phillip	DBS	25.48	27.3	Accumulate
02/18/20	Citibank	DBS	25.48	26.8	Hold
03/04/20	Citibank	DBS	23.66	24.4	Hold
03/05/20	CIMB	DBS	23.91	24.33	Hold
03/05/20	OCBC	DBS	23.91	25.5	Hold	GGM, PB1.3x
03/09/20	Citibank	DBS	23	17.5	Sell
03/10/20	phillip	DBS	21.15	27.3	Accumulate
03/10/20	Jefferies	DBS	21.15	27	Buy
03/13/20	DMG & Partners	DBS	20.2	21.5	Neutral	GGM, PB1.09x FY20
03/19/20	Macquarie	DBS	17.9	20.25	Neutral
03/19/20	Jefferies	DBS	17.9	20	Buy
04/01/20	Jefferies	DBS	18.57	20	Buy
04/01/20	Citibank	DBS	18.57	17.5	Sell
04/08/20	Kim Eng	DBS	19.11	21.99	Buy
04/13/20	phillip	DBS	19.14	27.3	Accumulate
04/17/20	UOB Kay Hian	DBS	19.38	22.1	Buy