SINGAPORE (Apr 27): OCBC Investment Research is keeping its “buy” call on ComfortDelGro (CDG) with a fair value estimate of $1.75.
Although the research house notes that CDG will be negatively affected by Covid-19 measures in Singapore, it is positive that the group will recover from the impact and recommends to “buy” with a longer term view.
Covid-19 has impacted transport activity significantly in Singapore and overseas. In Singapore, the ‘circuit breaker’ means that activity will slow significantly in April and May, and depending on the trajectory of the virus situation, there is the potential that recovery may be slow.
