Broker: OCBC Group Research
Date of Report: 4 May 2026
Excerpt from OCBC Group Research report.
Report Summary
- CapitaLand Investment Ltd (CLI SP)
Action: BUY
Target Price: SGD 3.58
Key Idea: Despite a 2% YoY dip in 1Q26 revenue due to lower real estate investment business (REIB) contributions, fee-related revenue grew 10% YoY. CLI’s capital raising and deployment remain active, backed by a strong balance sheet and debt headroom, enabling flexibility for growth. Investors are advised to focus on CLI’s robust fee-income and disciplined capital allocation in a cautious market.
- DBS Group Holdings Ltd (DBS SP)
Action: HOLD
Target Price: SGD 60.93
Key Idea: DBS delivered stronger-than-expected 1Q26 results, led by wealth management and trading income. While the outlook is challenged by geopolitical risks, DBS remains resilient with strong AUM growth, low NPLs, and an attractive 5.7% dividend yield.
- Starhill Global REIT (SGREIT SP)
Action: HOLD
Target Price: SGD 0.525
Key Idea: SGREIT’s 3QFY26 results were stable, with marginal YoY growth in revenue and flat NPI. Portfolio occupancy improved, but retail assets may face headwinds from higher costs and travel uncertainties. The office portfolio remains resilient.
above is an excerpt from a report by OCBC Group Research. Clients of OCBC Group Research can be the first to access the full report from the OCBC Group Research website : https://www.ocbc.com/group/about-us/group-research.html
