Broker Name: DBS
Date of Report: (Date not specified in document; inferred as recent, around mid-2024)
Excerpt from DBS report.
Report Summary

• DBS sets a year-end 2026 target for the Straits Times Index (STI) at 4,880, forecasting moderate gains after strong performance in 2025, with an expected FY26F earnings growth of 8.8% driven by financials, industrials, and TMT sectors.
• Top large cap picks are aligned with Singapore’s SG2040 growth themes, focusing on sectors like trade & connectivity, financial services, real estate, and growth, with named companies such as ST Eng, SATS, Seatrium, MLT, OCBC, SGX, UOL, CLAR, CICT, and Singtel.
• Small and mid caps (SMCs) are expected to benefit from value unlocking, earnings growth, and resilient income, even as initial market support measures fade; highlighted SMCs include GuocoLand, iFAST, Nam Cheong, UMS, SIA Eng, CAREIT, NTT DC REIT, LREIT, and NetLink.

Above is an excerpt from a report by DBS. Clients of DBS can be the first to access the full report from the DBS website: https://www.dbs.com