DBS: 1Q11 results on 29 Apr before market open. RBS maintains Buy with TP$16.50 expects Net profit at +15.9% yoy but -9.2%qoq to $615m. House
likes DBS for its gearing to eventually higher interest rates and the potential positive ROA impact from restructuring. Valuation looks attractive at 11.7x FY12F PE and 1.19x FY12F PB.
No comments:
Post a Comment