0318 GMT - ComfortDelGro's earning growth is likely to remain strong this year, says Shekhar Jaiswal, RHB Singapore head of equity research, in a note. The brokerage raises the stock's target price to S$1.75 from S$1.70, while maintaining a buy rating. The Singapore-listed transport conglomerate will likely be supported by factors, including margin improvement in the U.K. bus business and better earnings for the Singapore rail business, he writes. Management noted that contract renewals for U.K. bus contracts are expected to see improving margins, he says. The company's Singapore rail earnings should also improve marginally due to improving ridership, higher fares and lower electricity prices that were locked in last year, he adds. Shares are at S$1.42.(amanda.lee@wsj.com)
(END) Dow Jones Newswires
March 02, 2025 22:18 ET (03:18 GMT)
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