Jefferies initiated coverage of DBS Group Holdings with a "buy" rating. The investment bank set a price target of SGD 91. This target represents a significant premium to the stock's closing price of SGD 77.50 on September 22, 2026. The initiation contributed to a rise in DBS's share price.
Jefferies cited DBS's strong capital position. The bank projects net profit growth. This growth is driven by balance sheet expansion, wealth management fees, and normalizing net interest margins. DBS's recent performance supports this positive outlook. The company reported a 9% year-on-year increase in net profit for the second quarter of 2026.