In his view, while CDG’s recently announced tie-up with Uber is not expected to be spectacular, he does believe it will help stabilise CDG’s taxi operations, particularly with regards to its fleet idle rate.
SINGAPORE (Feb2): OCBC Investment Research is maintaining its “hold” call on ComfortDelGro Corporation (CDG) while raising its fair value to $2.02 from $2.05 previously on higher FY18-21 earnings by 1-3% to factor in petrol sales assumptions to offset declining diesel sales.
In a Friday flash note, analyst Eugene Chua says he deems the stock fairly valued based on its last closing price of $2.15, supported by a FY18F dividend yield of about 4.9%.
