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Brokers' take

taxi140516.jpg
We lower FY2016/2017 forecast earnings per share by 11 per cent and 10 per cent respectively, to account for a greater number of shares, smaller taxi fleet growth locally, increased taxi drivers benefit expense and lower automotive engineering revenue.

ComfortDelGro Corporation

Buy

RHB Research, May 13

Target price: S$3.40

May 13 close: S$2.80

WE lower FY2016/2017 forecast earnings per share by 11 per cent and 10 per cent respectively, to