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It's 4 buys out of 4 for this stock

PC Lee
PC Lee11/17/2016 03:47 PM GMT+08  • 3 min read
It's 4 buys out of 4 for this stock
SINGAPORE (Nov 17): UOB Kay Hian, DBS Group, OCBC and RHB are all calling a “buy” on ComfortDelGro with target prices of $2.90, $3.09, $3.08 and $3.19 respectively.
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SINGAPORE (Nov 17): UOB Kay Hian, DBS Group, OCBC and RHB are all calling a “buy” on ComfortDelGro with target prices of $2.90, $3.09, $3.08 and $3.19 respectively.

UOB says it continues to like the transport operator for its defensive qualities and diversified earnings stream. It also expects a dividend payout as Singapore’s bus and rail segments transit to an asset-light model.

Notably, lead analyst Andrew Chow says rail revenue increased 26.1% y-o-y in 9M16 on the back of strong ridership momentum growth from both the North-East Line (NEL) and the Downtown Line (DTL). Average daily ridership for the DTL almost doubled to 234,000, while the NEL saw a 5.3% y-o-y increase to 566,000.

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