SINGAPORE (June 22): RHB Group Research is keeping its “buy” call on taxi and public transport operator ComfortDelGro with a target price of $1.65.

This came on the back of the company announcing last Friday that it plans to jointly bid for managing the operations and maintenance (O&M) of Lines 16 and 17 of Grand Paris Express (GPE) along with RATP Dev and Alstom, its joint venture (JV) partners.

In a Monday report, analyst Shekhar Jaiswal says, “Given the strong credentials of all three JV partners in managing O&M for metro projects, we see the JV as a strong contender in the tendering process. If successful, Comfort should see earnings contribution from this project in 2024.”

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