Home Capital Broker's Calls

ComfortDelGro raised to 'neutral' by RHB as valuations look stretch after STI outperformance

Uma Devi
Uma Devi6/18/2019 12:57 PM GMT+08  • 3 min read
ComfortDelGro raised to 'neutral' by RHB as valuations look stretch after STI outperformance
SINGAPORE (June 18): RHB Research has upgraded ComfortDelGro (CD) to ‘neutral’ as the stock looks fairly priced now although it remains confident over the company’s growth recovery.
Font Resizer
Share to WhatsappShare to FacebookShare to LinkedInMore Share
Scroll to top
Follow us on Facebook and join our Telegram channel for the latest updates.

SINGAPORE (June 18): RHB Research has upgraded ComfortDelGro (CD) to ‘neutral’ as the stock looks fairly priced now although it remains confident over the company’s growth recovery.

“While we like the defensive nature of its earnings, investors should consider buying at a lower price (about $2.40),” says analyst Shekhar Jaiswal in a Tuesday report, adding that the stock is trading at 17.3 times 2019 earnings versus its five-year average of 15 times.

In a Tuesday report, analyst Shekhar Jaiswal says CD’s public transport unit remains the key earning driver, aided by organic growth in Singapore and contributions from acquisitions undertaken in 2018.

For more insights on corporate trends...
Sign In or Create an account to access our premium content.
Subscription Entitlements:
Less than $9 per month
Unlimited access to latest and premium articles
3 Simultaneous logins across all devices
Bonus unlimited access to online articles and virtual newspaper on The Edge Malaysia (single login)
×
Loading next article...
The Edge Singapore
Download The Edge Singapore App
Google playApple store play
Keep updated
Follow our social media
Subscribe to The Edge Singapore
Get credible investing ideas from our in-depth stock analysis, interviews with key executives, corporate movements coverage and their impact on the market.
© 2022 The Edge Publishing Pte Ltd. All rights reserved.
Unlock unlimited access to premium articles with less than $9 per month. Subscribe Now