DBS, 6-Feb-2026
Excerpt from DBS report.
- US stock market rally is broadening beyond technology, with the Dow Jones outperforming the tech-heavy Nasdaq; consumer staples and healthcare sectors see major players reach USD1 trillion market cap.
- DBS highlights three Dow Jones stocks—Boeing (industrial turnaround), Walmart (margin expansion), and Goldman Sachs (banking rebound)—as top picks amid resilient US economic growth and potential AI productivity gains.
- Tech sector likely to remain rangebound in the near term; hyperscaler CAPEX sentiment has shifted slightly negative for chip stocks, with Nvidia’s upcoming results likely to impact the AI value chain.
- Materials and energy sectors, YTD winners, are viewed as trading opportunities due to commodity price volatility.
- CICT delivered strong FY25 results with distributable income up 14% and DPU up 6.4%, driven by portfolio consolidation and rent reversions; DBS maintains BUY with a higher target price.
- HPH Trust reported resilient FY25 earnings (net profit up 15%), supported by volume growth and cost discipline, with attractive yield forecasts for FY26/FY27; DBS maintains BUY rating and raises target price.
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.sg/
