ComfortDelGro price target raised 10% to $3.42 by CIMB

Stock Name: ComfortDelGro
Company Name: COMFORTDELGRO CORPORATION LTD

Research House: CIMB

Price Call: BUY

Target Price: 3.42

SINGAPORE (Feb 3): CIMB has raised its price target for ComfortDelGro Corp to $3.42 from $3.11 after increasing its earnings per shares estimates by 10% for FY2015 and 18% for FY2016 to reflect lower energy costs and smaller losses at the public transport operator's Downtown rail line (DTL).

DTL has been loss-making since it started operation in December 2013.

With the second phase of the rail line slated to begin operation in 1Q2016, ComfortDelGro should break even, according to CIMB analysts Roy Chen and William Tng.