Both RHB Group Research analyst Shekar Jaiswal and DBS Group Research analyst Andy Sim have slashed their FY2020 earnings forecasts for the company by 19% and 7% respectively, while Maybank Kim Eng Research analyst Kareen Chan has reduced FY20E EBIT margin forecast by 50 basis points to reflect a slower pace of decrease in operating costs.
SINGAPORE (May 26): Although most companies are increasingly optimistic as the world emerges from a lockdown, market watchers say ComfortDelGro’s (CDG) recovery could be “gradual” at best.
As such, brokerages have taken to adjusting the company’s earnings estimates to factor in a bleak outlook.
