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Brokers' take

Published Thu, Sep 19, 2019 · 09:50 PM

ComfortDelGro | Neutral Sept 19 close: S$2.45 Target price: S$2.55 RHB Research Institute, Sept 19

While contribution from acquisitions and organic growth in ComfortDelGro's (CD's) public transport business should drive earnings, we remain cautious in the near term amid weakening metrics for its taxi business, and the expected increase in operating costs for the rail business.

A sustainable, roughly 4 per cent dividend yield should provide support to share price. Trading at 17.1 times 2020 forecast price-to-earnings (5-year average: 15 times), the stock looks fairly priced.

Brokers' Take

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