Jefferies sets SGD 91 target for DBS Group stock

DBS Group (SG1L01001701) was trading at EUR 53.90 at Lang & Schwarz on October 2, 2026 at 3:02 p.m. CEST, up EUR 0.02 or 0.04 percent versus the prior close of EUR 53.88. The latest analyst action came from Jefferies, which initiated coverage on September 22, 2026 with a Buy rating and an SGD 91.00 price target, according to Investing.com.

Jefferies sees capital strength

Jefferies based its target on balance-sheet growth, wealth-led fee income and expected net interest margin normalization. The report forecasts net profit growth of 4.80 percent in 2026, 6.60 percent in 2027 and 8.80 percent in 2028, while return on equity is expected to reach 17.30 percent in 2028, Investing.com reported.

The same analysis identified SGD 6.10 billion of existing capital surplus and SGD 1.00 billion of recurring capacity, implying SGD 7.10 billion of potential capital-return capacity over 2027 and 2028. That figure gives the target a balance-sheet rationale, but the report also said a 100 basis point increase in the cost of equity would reduce valuation by 22.00 percent, Investing.com reported.

Fees offset margin pressure

DBS reported second-quarter 2026 net profit of SGD 3.10 billion, up 9.00 percent year on year, while quarterly total income reached SGD 6.10 billion, up 6.00 percent year on year. Net interest income declined 2.00 percent to SGD 3.60 billion and net interest margin fell 18 basis points to 1.87 percent, according to FSM Global.

The earnings mix shifted toward fees. Net fee income rose 25.00 percent to SGD 1.50 billion, wealth-management fees jumped 42.00 percent to SGD 919.00 million and assets under management increased 16.00 percent to SGD 516.00 billion in the second quarter of 2026, FSM Global reported. This combination matters because fee growth supplied a quantified counterweight to lower interest income.

Stock stays below its yearly high

DBS Group trades on the Singapore Exchange under ticker D05, and its 52-week range was SGD 51.80 to SGD 79.05 as of October 2, 2026. The finance data placed market capitalization at SGD 219.1 billion on the same date, leaving the Lang & Schwarz euro quote as the relevant reference for German-market investors.

DBS Group stock was trading at EUR 53.90 at Lang & Schwarz on October 2, 2026 at 3:02 p.m. CEST, plus 0.04 percent versus the Lang & Schwarz prior close of EUR 53.88. The further course of trading is shown by the continuously updated real-time quote of DBS Group stock.

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