DBS (Bank) - Stock calls

Date	Analyst	Company	Last	Target	Call	Valuation
08/05/25	MorningStar	DBS	47.89	48	Neutral
08/06/25	DMG & Partners	DBS	48.24	47	Buy
08/07/25	Lim & Tan	DBS	48.85	50	Accumulate
08/07/25	Citi Research	DBS	48.85	56.5	Buy
08/08/25	UOB Kay Hian	DBS	49.75	52.8	Hold	GGM, PB2.14x FY26
08/08/25	CIMB	DBS	49.75	54.9	Add	GGM
08/11/25	phillip	DBS	50.75	52	Accumulate	GGM, PB2.09x FY25
08/11/25	Lim & Tan	DBS	50.75	55	Accumulate
08/19/25	DMG & Partners	DBS	49.6	52.8	Buy	GGM, PB2x FY25
09/10/25	UOB Kay Hian	DBS	50.88	54.4	Hold	GGM, PB2.21x FY26
10/10/25	DMG & Partners	DBS	53.91	57.1	Buy	GGM, PB2.2x FY26
10/13/25	OCBC	DBS	53.85	54	Hold
10/17/25	CIMB	DBS	52.51	54.9	Add	GGM
10/21/25	UOB Kay Hian	DBS	52	55.25	Hold	GGM, PB2.25x FY26
10/21/25	Citi Research	DBS	52	57.1	Buy
11/06/25	Lim & Tan	DBS	53.5	57	Accumulate
11/07/25	phillip	DBS	55.54	58	Accumulate	GGM, PB2.34x FY25
11/07/25	UOB Kay Hian	DBS	55.54	55.5	Hold	GGM, PB2.26x FY26
11/07/25	CIMB	DBS	55.54	60.5	Add	GGM
11/10/25	Kim Eng	DBS	54.98	62.79	Buy	Up from $56.15
11/10/25	Citi Research	DBS	54.98	61.1	Buy	GGM, PB2.5x
11/10/25	DMG & Partners	DBS	54.98	59	Buy
11/28/25	JPM	DBS	54	70	Overweight
01/06/26	Macquarie	DBS	56.65	46	Underperform
01/06/26	JPM	DBS	56.65	70	Overweight
01/07/26	UOB Kay Hian	DBS	57.93	68.95	Buy	GGM, PB2.81x FY26
01/19/26	CIMB	DBS	59.12	60.5	Hold	GGM
02/09/26	Lim & Tan	DBS	59.3	60	Hold
02/10/26	UOB Kay Hian	DBS	58.19	66.75	Buy	GGM, PB2.7x FY26
02/11/26	phillip	DBS	57.8	60	Accumulate	GGM, PB2.47x FY26
02/16/26	Citi Research	DBS	57.06	63.6	Buy	GGM, PB2.6x
03/10/26	UOB Kay Hian	DBS	54.31	66.75	Buy	GGM, PB2.7x FY26
03/23/26	JPM	DBS	57.14	70	Overweight
03/30/26	UOB Kay Hian	DBS	57.15	67.55	Buy	GGM, PB2.73x FY26
04/06/26	phillip	DBS	57.55	60	Accumulate	GGM, PB2.47x FY26
04/06/26	JPM	DBS	57.55	63	Overweight
04/10/26	DMG & Partners	DBS	57.2	63.5	Buy
04/16/26	UOB Kay Hian	DBS	57.7	67.55	Buy	GGM, PB2.7x FY26
04/30/26	CIMB	DBS	56.56	60	Hold	GGM
04/30/26	Lim & Tan	DBS	56.56	60	Accumulate
05/04/26	UOB Kay Hian	DBS	58.5	65.2	Buy	GGM, PB2.62x FY26
05/04/26	phillip	DBS	58.5	61	Accumulate	GGM, PB2.51x FY26
06/08/26	phillip	DBS	61.74	67.5	Accumulate
06/10/26	UOB Kay Hian	DBS	63.76	65.2	Buy	GGM, PB2.62x FY26
06/10/26	JPM	DBS	63.76	63	Neutral
06/23/26	UOB Kay Hian	DBS	66.29	72.5	Buy	GGM, PB2.86x FY27
07/09/26	Macquarie	DBS	69.1	70.86	Outperform
07/10/26	UOB Kay Hian	DBS	70.23	76.85	Buy	GGM, PB3.03x FY27
07/14/26	UBS	DBS	70.79	72.5	Neutral
07/14/26	DMG & Partners	DBS	70.79	75.7	Buy
07/15/26	phillip	DBS	72.03	76	Accumulate
07/16/26	JPM	DBS	72.98	63	Underweight
07/21/26	CIMB	DBS	71.9	77.1	Add	GGM