“ComfortDelGro witnessed a q-o-q improvement in its public transport and taxi businesses during 3QFY2020 despite lower support from the government. While a strong control on Covid-19 should lead to further normalisation of business operations in Singapore early-2021, the availability of a vaccine should support earnings recovery in its overseas markets during 2HFY2021,” he says.
Despite a gradual lifting of government support for the public transport and taxi sector, transport operator ComfortDelGro is showing strong domestic earnings recovery, says RHB analyst Shekhar Jaiswal in a Dec 17 note.
For this, Jaiswal is maintaining his “buy” call on the company, with a target price of $1.90.
