Thursday 28 Mar 2024
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SINGAPORE (Sept 28): CIMB is maintaining its “Hold” call on ComfortDelGro, with a target price of S$2.15.

Recent news of ComfortDelGro’s drivers jumping over to competitor Grab has led to a 5.9% decrease since Sept 15 in the group’s share price, which seemed to have priced in taxi margins in the range of 6.4%-7.3%.

In a Wednesday report, analyst Cezzane See says: “The market’s conservative view notwithstanding, the stock still lacks longer-term catalysts. Our revised forecasts and DCF-based TP of S$2.15 are based on...(click on link for full story on theedgesingapore.com)

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