A pretty good quarter for DBS but more challenges remain

SINGAPORE (Nov 1): DBS Group Holdings posted earnings of $1.07 billion for the 3Q ended Sept, 0.5% higher than the same quarter a year ago. This was in line with analysts’ expectations with Maybank Kim Eng upgrading the stock to a “hold” with a higher target price of $14.55, while RHB is maintaining its “buy” with an unchanged target price of $17.30.

However, the results were still insufficient to allay most concerns about the continuing O&G gas troubles with CIMB maintaining its “hold” rating on the stock with a higher target price of $15.40.

(See also: DBS posts flat 3Q earnings of $1.07 bil, in line with expectations)

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