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'Buy' ComfortDelGro as ease in restrictions should boost ridership and taxi demand: RHB

Atiqah Mokhtar
Atiqah Mokhtar3/26/2021 09:52 AM GMT+08  • 2 min read
'Buy' ComfortDelGro as ease in restrictions should boost ridership and taxi demand: RHB
RHB is forecasting over 200% y-o-y in profit growth for CGD for FY21.
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The easing of Covid-19 restrictions should further boost public transport ridership and translate to higher demand for taxis in Singapore, says RHB Group Research analyst Shekhar Jaiswal.

Jaiswal has maintained his ‘buy’ call for ComfortDelGro Corp (CDG) with an unchanged target price of $1.90 after the government announced that from 5 Apr onwards, working from home will not be the default option, with up to 75% of employees allowed at the workplace at any one time, compared to 50% previously.

SEE:ComfortDelGro commits $50 mil to clean energy technology over the next 5 years

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