Brokers' take

ComfortDelGro | Neutral (upgraded) June 18 close: S2.60 Target price: S$2.65 RHB Research Institute, June 18

We maintain that ComfortDelGro's public transport business will be its key earnings growth driver in the near term, aided by organic growth in Singapore and contributions from acquisitions undertaken in 2018.

In addition to organic growth from its bus operations in Singapore, the reduction of losses for its rail business, which has witnessed an increase in ridership and higher average fares, should also support earnings growth for its public transport business in Singapore.