DBS Shares’ 43% Rally Seen Having More Legs as Wealth Fees Rise
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DBS Group Holdings Ltd.’s shares are set to close out their best year since 2009, with some analysts predicting the rally could extend, driven by the bank’s burgeoning wealth management business.
Southeast Asia’s top-performing bank is best placed to tap into the growing pool of affluent clients and family offices in Singapore, according to Macquarie Group Ltd.’s analysts, including Jayden Vantarakis. They raised the stock target price in November to S$45.50, implying a potential 5% gain from Monday’s close.