DBS Group stock rises as Jefferies sets SGD 91 target

Published on 09/22/2026 at 12:48 | Editorial responsibility: Rafael Müller, Editor-in-Chief AD HOC NEWS

DBS Group stock reached SGD 77.50 on September 22, 2026, while Jefferies initiated coverage with a SGD 91 target. Q2 net profit rose year on year.

DBS Group, SG1L01001701, Illustration mit AI erstellt.

DBS Group stock reached SGD 77.50 on the Singapore Exchange on September 22, 2026, as the bank's latest earnings and a new analyst valuation shaped trading. The price was above the SGD 76.86 previous close recorded for September 18, 2026, while the next major reference point is Jefferies' SGD 91.00 target.

Jefferies starts with a buy rating

According to Investing.com on September 22, 2026, Jefferies initiated coverage of DBS Group Holdings with a buy rating and a SGD 91.00 price target. The report's valuation case was tied to the bank's capital strength and an expected sustainable return on equity of 16.7 percent.

The target is SGD 13.50 above the SGD 77.50 market price cited for September 22, 2026, a numerical gap of 17.4 percent. Jefferies also said that a 100 basis point increase in the cost of equity would reduce its valuation by roughly 22 percent, making interest-rate assumptions a material counter-factor to the target.

Q2 earnings provide the operating base

DBS reported its second-quarter 2026 results for the three months ended June 30, 2026, in materials published in August 2026. According to the bank's investor-relations materials, total income grew at a mid-single-digit percentage rate from Q2 2025, while net profit increased at a high-single-digit percentage rate.

Fee income also increased year on year in Q2 2026, and the bank maintained stable net interest margins across its Singapore and regional franchises. The combination matters because Jefferies' 2026 earnings view called for net profit growth of 4.8 percent, followed by 6.6 percent in 2027 and 8.8 percent in 2028, as wealth-management fees and balance-sheet growth offset interest-margin normalization.

SGX price remains the key reference

DBS Group's September 22, 2026 price of SGD 77.50 belongs to the primary SGX listing under ticker D05. The September 21, 2026 market context placed the shares at SGD 77.36 after a previous close of SGD 76.86 on September 18, 2026, keeping the reference price within the stock's 52-week range.

For investors, the central comparison is therefore clear: the latest Q2 2026 figures show year-on-year growth in total income, net profit and fee income, while the new SGD 91.00 target depends on a return on equity assumption of 16.7 percent and remains sensitive to a higher cost of equity.