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ANALYSTS have raised their target prices for DBS after the lender on Monday (Feb 10) posted full-year net profit that reached a record high. This points to potentially higher valuations and the bank dishing out more dividends ahead.

Maybank Securities raised its target price for DBS by nearly 10 per cent to S$51.37 from S$46.91, with a “buy” rating. RHB maintained its “buy” rating and raised its target price by nearly 15 per cent to S$51.20 from S$44.70 on Tuesday. 

The share price of DBS was S$44.96 on Tuesday.

Maybank said that DBS is giving significant visibility on capital returns.

While earnings could grow at just 1 per cent compound annual growth rate between FY2025 and FY2027, dividends could expand at 7 per cent, delivering yields higher than 6.5 per cent, it said.