Post Reply
7141-7142 of 7142
Attractive ride at -2SD historical mean. Trading at 1.2x PB (-2SD of historical mean) as ROE jumps to ~9% (FY21F), ComfortDelgro&rsquo s (CD) current price seems unjustified. Investors should look beyond FY20F. Reiterate BUY.
Consolidation of P2P industry. We are looking at smaller private rental car fleet providers exiting the market, bringing a balance to the point-to-point (P2P) supply-demand dynamics.
Phase 3 re-opening could be another trigger. Tracking mobility data, people are now moving about more. With sustained low infection rates, a Phase 3 re-opening could be a near term catalyst.
Our TP is raised to S$ 1.96 as we revise our valuation peg to 1.6x FY21F P/BV, which is -1 S.D. of its historical average, on expectations of ROE jumping to c.9% in FY21F, after a dismal FY20F. The counter is trading below 1.2x P/BV, or -2 S.D. of its average
Wah leow conman you caused the thread to be lock again ah !!!??
CDG LAI LIAO !!!
DBS TARGET $1.98
