ComfortDelGro upgraded to 'neutral' with target price of $2.90 by OSK DMG

Stock Name: ComfortDelGro
Company Name: COMFORTDELGRO CORPORATION LTD

Research House: OSK-DMG

Price Call: HOLD

Target Price: 2.90

SINGAPORE (Feb 12): OSK DMG has upgraded ComfortDelGro to "neutral" from "take profit" with a target price of $2.90 on expectation of a turnaround in Singapore bus and real operations.

"FY2014's $284 million profit was in line with expectations, aided by revenue growth across all business segments," said OSK DMG.

It pointed out that while Singapore bus revenue continued to grow, the core bus operations remained loss-making with a loss of $13.5 million in 2014.