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ComfortDelGro rated a buy on 'increasingly defensive' earnings: Maybank KE

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The taxi industry is showing signs of stabilisation with regulators levelling the playing field, while ride-hailing companies such as Grab and Gojek are shifting their focus to other businesses, says Maybank KE.

Singapore

MAYBANK Kim Eng (Maybank KE) has reinitiated coverage on ComfortDelGro Corp with a "buy" call and a target price of S$1.99, citing an "increasingly defensive" revenue base and structural growth.

Shares of the land transport giant closed on Monday at S$1.51, up S$0.05 or 3...

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