“We maintain that CD’s sequential improvement in profit will be sustained over the next 12 months, aided by the aggressive vaccination plan and robust Covid-19 testing, as well as contact-tracing capabilities in Singapore,” he says in a June 21 report.
RHB Group Research is maintaining its ‘buy’ rating on ComfortDelGro (CDG) as Singapore gradually reopens.
RHB analyst Shekhar Jaiswal believes the reopening of Singapore’s economy over the coming quarters will support higher demand for taxi services as well as public transport. Since June 14, the Land Transport Authority (LTA) has lifted the two-passenger limit for taxis.
