Singapore Stock Market News

ComfortDelGro Corp - World-class in buses, trains and automobiles

StockFanatic
Publish date: Tue, 08 Apr 2014, 01:37 PM
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■ We upgrade ComfortDelGro Corp (CD) to an OP rating with a DCF-derived price target of SGD 2.21 (from SGD 1.61).

■ We argue that CD is the best-managed land transport company in the world, with a consistent track record of moderate earnings growth and shareholder value creation.

■ M&A opportunities in the Australia bus and China taxi businesses are an upside risk to our modest 2013-16E earnings CAGR of 4.5%.

■ We think the company's improving growth prospects justify a higher-than-historical-average valuation and recommend that long-term investors buy on weakness.

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Revier Thomas

Post removed.Why?

2014-04-08 15:49

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