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king of the king in SGX
Daiwa Institute of Research says it has raised its target price to $20.90 because of the prospects for growth in the bank's lending.
"We forecast annual domestic loan growth to average 7.1% per annum over the next five years (2006-2010), compared with average annual growth of 1.9% between 1998 and 2005," the research firm said in a note.
"DBS remains our top pick in the sector, due to what we regard as its superior earnings growth prospects (based on our forecasts) for 2007," Daiwa said.
DBS , any plan, any view ?