DBS Group resumed with a Sell at Goldman Sachs

Goldman Sachs analyst Melissa Kuang resumed coverage of DBS Group with a Sell rating and S$31.50 price target. The firm, which is resuming coverage of a group of ASEAN banks, sees ASEAN banks’ profitability approaching a historical eight-year peak by the first half and is "remaining tactical" given the uncertainties in the U.S. macro outlook.