CGS International (CGSI) analysts Tay Wee Kuang and Lim Siew Khee are “reeling in expectations” for the upcoming financial results of Singapore’s three listed banks, which will be released in early August.
Staying “neutral” on the sector in a July 15 note, Tay and Lim think patmi could be weaker across the board, by between 3.7% and 5.3% q-o-q.
DBS Group Holdings is CGSI’s top pick, with an “add” call and $47.90 target price, owing to the “clarity” of its capital return initiative, which supports FY2025 to FY2027 yields of 6.6% to 7.6%.
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