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OCBC raises ComfortDelGro's fair value estimate amid expectations of smoother ride ahead

Stanislaus Jude Chan
Stanislaus Jude Chan4/17/2019 02:58 PM GMT+08  • 2 min read
OCBC raises ComfortDelGro's fair value estimate amid expectations of smoother ride ahead
SINGAPORE (Apr 17): OCBC Investment Research is keeping its “hold” call on ComfortDelGro (CDG), but raising its fair value estimate to $2.63 from $2.38 on the back of improved market sentiment for the public transport operator.
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SINGAPORE (Apr 17): OCBC Investment Research is keeping its “hold” call on ComfortDelGro (CDG), but raising its fair value estimate to $2.63 from $2.38 on the back of improved market sentiment for the public transport operator.

Analyst Low Pei Han notes that the share price of CDG’s 74.5%-owned subsidiary SBS Transit has climbed around 56% year-to-date.

She adds that this has been supported by earnings growth with the contributions from the Seletar and Bukit Merah Bus Packages, which commenced operations from March and November 2018, respectively.

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