This confidence in the land transport company’s increase in demand is further supported by a recent survey by The Straits Times, which shows that despite the wide adoption of ride-hailing services, hiring taxis by way of street hailing were the cheapest way for a point-to-point ride.
RHB Group Research’s analyst Shekhar Jaiswal has kept his “buy” call on ComfortDelGro (CDG) (SGX:C52
) with an unchanged target price of $1.40, amidst an expected increase in demand for its services, and the company’s commitment to moving towards sustainable options.
In his April 6 report, Jaiswal expects CDG to have strong operating metrics in the second half of 2023, due to strong increase in ridership with higher tourist arrivals.
