SINGAPORE (Nov 16): UOB Kay Hian is reiterating its “buy” call on ComfortDelGro with a target price of $2.25, as the group’s results were broadly in line and it’s “coping well” amid revenue pressure.
The group posted 3Q17 earnings drop 8.2% to $80.1 million from $87.3 million last year, bringing 9M17 earnings to $242 million.
Revenue decreased 2.4% to $991.4 million in the face of strong competition.
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