ComfortDelGro Appears to be Gaining International Business Momentum
Dow Jones
Sep 03
0206 GMT - ComfortDelGro's recent contract win to operate the Copenhagen Metro shows that its international public transport business is gaining traction, RHB's Shekhar Jaiswal says in a report. The Singapore-listed transport company announced that KBH Metro Partner, its consortium with RATP Dev, has been selected to operate and maintain the Danish metro for 12 years. "This [international public transport] business offers long-dated, contracted revenue from government-linked counterparties, which lengthens the group's earnings durability," the analyst says. RHB maintains a buy rating on the stock and target price of 1.50 Singapore dollars. Shares are little changed at S$1.28.
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