SINGAPORE (Oct 12): Public transport operator ComfortDelGro has risen as much as 18% in the year-to-date, which compares with the Straits Times Index's 10.9% fall.

The surge in its share price has led UOB Kay Hian to label it "an exceptional defensive play" in an otherwise volatile market.

"In addition to the imminent bus restructuring, Singapore's ambition for a car-light society is expected to boost ridership growth," says UOB Kay Hian, maintaining its “buy” rating and target price of $3.30 a share.

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