RHB Group Research analyst Shekhar Jaiswal has kept “buy” ComfortDelGro (CDG) as Singapore looks to gradually reopen the domestic economy.

“As the country looks to gradually reopen the domestic economy, and as it adds more countries to the Vaccinated Travel Lane, we should see improved operating metrics for CDG’s public transport and taxi businesses,” writes Jaiswal in an Oct 15 report.

“The higher inflow of international travellers expected in 2022 will be positive for Singapore’s land transport sector. Earnings recovery in its overseas businesses will also likely be visible in 2HFY2021, as the UK and Australia have relaxed restrictions,” he adds.

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