Goldman Sachs analyst Melissa Kuang downgraded DBS Group to Sell from Neutral with a price target of S$34.20, down from S$36.90. DBS is “a well run bank with solid balance sheet and franchise,” but heading into a rate cut cycle the firm sees DBS facing headwinds to its earnings, the analyst tells investors.
Elevate Your Investing Strategy:
- Take advantage of TipRanks Premium at 50% off! Unlock powerful investing tools, advanced data, and expert analyst insights to help you invest with confidence.
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>