Judging by CDG’s results for 1QFY2023 ended March, Ong believes the worst for the company could be over, with core ebit likely bottoming out despite near-term cost challenges. We expect to see stronger growth in 2HFY2023, underpinned by continued margins recovery in its public transport services and taxi businesses,” he says.
Analysts from Maybank Research and UOB Kay Hian Research have maintained their “buy” and “hold” calls for ComfortDelGro (SGX:C52
) Corporation (CDG) with unchanged target prices of $1.45 and $1.37, as CDG’s new platform fee comes into effect from July 1.
While CDG’s share price has underperformed on the back of slower-than-expected earnings after the economic reopening post-pandemic, Eric Ong of Maybank believes the transport company could now be “turning the corner”.
