DBS Group Holdings, the Financial sector company, was revisited by a Wall Street analyst on August 8. Analyst Glenn Thum from Phillip Securities maintained a Buy rating on the stock and has a S$52.00 price target.
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Glenn Thum’s rating is based on DBS Group Holdings’ strong financial performance and strategic positioning. The company’s earnings for the second quarter of 2025 were in line with expectations, with significant growth in net interest income driven by increased loan and deposit volumes. Despite a slight decline in net interest margin, DBS managed to maintain a robust earnings profile, supported by effective balance sheet management and a strong capital position.
Additionally, non-interest income showed substantial growth, particularly in wealth management and trading income, which benefited from market volatility and increased assets under management. The bank’s ability to sustain dividend payouts and its defensive earnings profile make it an attractive investment compared to its peers. These factors, combined with a strategic focus on expanding its customer base and enhancing its product offerings, underpin the Buy rating assigned by Glenn Thum.
In another report released on August 8, CGS-CIMB also reiterated a Buy rating on the stock with a S$54.90 price target.