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ComfortDelGro’s earnings recovery to sustain in 2022: RHB

Khairani Afifi Noordin
Khairani Afifi Noordin12/17/2021 09:55 AM GMT+08  • 2 min read
ComfortDelGro’s earnings recovery to sustain in 2022: RHB
The reopening of the economy and international borders in the next three to six months will support CDG’s earnings recovery.
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RHB Group Research analyst Shekhar Jaiswal maintains his “buy” call for ComfortDelGro (CDG) with a lower target price of $1.90 from the previous $2.10, representing a 38% upside and 5.8% yield.

In his Dec 15 note, Jaiswal says RHB maintains that the reopening of the economy and international borders in the next three to six months will support CDG’s earnings recovery.

Although Singapore has imposed additional testing requirements for international travellers due to concerns relating to the spread of the Covid-19 Omicron variant, the country is continuing to transition into living with the virus in a new normal, says Jaiswal.

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