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.
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