In his most recent June 22 note, citing a more moderate inflation outlook in the UK, Chee is now of the view that margin compression in UK public transport to be "less severe" than initial expectations.
Just five weeks after downgrading ComfortDelGro from "hold" to "fully valued", Chee Zheng Feng of DBS Group Research has somewhat reversed his view on the land transport operator and upgraded the stock back to "hold".
On May 14, citing worries over higher costs and softening private hire businesses in UK, where CDG has bet heavily on, Chee has lowered his target price from $1.60 to $1.11.
