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Broker's take: RHB says to take profit on ComfortDelGro, remains bullish on prospects

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BrokersTake: RHB says to take profit on ComfortDelGro, remains bullish on prospects

RHB Research Institute has advised the brokerage's clients to take profit on ComfortDelgro as the counter has been trading close to its fair value, adding that investors could consider buying shares if the taxi operator's stock price falls below S$2.50.

RHB said it is still bullish on the taxi operator's prospects. Analyst Shekhar Jaiswal said in the report:"We remain positive on ComfortDelGro’s growth in the public transportation business, profit contributions from new acquisitions and likely improvement in taxi earnings amidst a lack of competition from ride-hailing players."

 

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