“We are positive on CDG for increased public transport usage, especially on taxi rental rates and Downtown Line (DTL) demand,” writes Yeo in a March 26 flash note.
As distancing measures are set to ease on April 5, DBS Group Research analyst Alfie Yeo expects stocks exposed to domestic consumption to benefit.
To this end, Yeo has kept “buy” on ComfortDelGro (CDG), Koufu, Sheng Siong Group and Dairy Farm International.
