Brokers' take
ComfortDelGro | Buy April 20 close: S$2.65 Target price: S$2.94 DBS Group Research, April 20
SBS Transit (SBST), a subsidiary of ComfortDelGro (CD), was awarded the third bus package with a S$480.3 million contract by the Land Transport Authority on April 19. There are a total of 26 bus services within the Seletar Bus Package, of which two will be new services. Of the remaining 24, SBST is currently operating 13 services, while SMRT currently runs the other 11 services. We maintain our "buy" recommendation on CD given its ability to deliver steady and consistent growth. While the market scepticism over its taxi operations could linger for a while, we believe it stands out as a stronger party among the taxi operators to weather the headwinds. Furthermore, the implementation of tighter regulations on private hire cars from July 1 should help to level the playing field.
Keppel Reit | Buy April 20 close: S$1.055 Target price: S$1.18 Maybank Kim Eng Research, April 20
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