Brokers' take

ComfortDelGro | Hold (downgraded) May 15 close: S$2.52 Target price: S$2.59 DBS Equity Research, May 15

ComfortDelGro's share price has done well in the year-to-date period, but we see limited upside at this juncture. Earnings growth remains, as seen in Q1, in line with our earlier thesis.

We are projecting earnings growth of 4 per cent/3 per cent in FY2019/ FY2020, and do not envisage major earnings upgrade to justify a further re-rating.