SINGAPORE (Nov 23): OCBC has downgraded the land transport sector to “neutral” on a subdued outlook this coming year.

In a Monday report, the brokerage now rates SMRT “hold” with a target price of $1.43, and ComfortDelgro, also “hold”, with a target price of $2.99.

The land transport sector now faces changes and uncertainties over various fronts. For example, there is the on-going review that might put rail assets under direct government ownership. Taxi companies, meanwhile, might suffer loss of booking earnings as more drivers and passengers use third party booking apps.

To continue reading,

Sign in to access this Premium article.

Subscription entitlements:

Less than $9 per month
3 Simultaneous logins across all devices
Unlimited access to latest and premium articles
Bonus unlimited access to online articles and virtual newspaper on The Edge Malaysia (single login)

Related Stories

Stay updated with Singapore corporate news stories for FREE

Follow our Telegram | Facebook