SGX Stocks and Warrants
Banking - DBS Group: Maintain Sell
SELL ahead of weak 1Q12 results. DBS will be announcing its 1Q12 results on the morning of 27 April. We expect no major surprises, unless net interest margins (NIM)/treasury income prove to be more robust than expected. Our Sell call is maintained as is our SGD11.50 TP (2012 ROE: 10.3%).
Source: Maybank-Kim Eng Research - 24 April 2012
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