ComfortDelGro

[winston]

not vested

ComfortDelGro Corp Ltd: Maximum fare adjustment to help offset loss making Downtown Line operations
Recommendation: Accumulate
Closing price: S$2.64
Target price: S$2.97

2014 Fare Review Exercise concluded; PTC grants net fare adjustment of 2.8%.

2.8% is the maximum fare adjustment permitted by the Fare Adjustment Formula.

Maximum fare adjustment is a positive for CD, but this means there will not be any quantum carried over to the following year.

We adjust our estimates for FY2015 (Y/E Dec) and beyond, maintaining our "Accumulate" rating, and with higher price target of S$2.97. (Previous S$2.85)


Source: Phillips

[winston]

not vested

Invest with Comfort

We expect three catalysts to drive ComfortDelGro’s (CDG) earnings growth and re-rate the stock:
1) the implementation of the government contracting model (GCM),
2) low energy prices, and
3) a turnaround of losses in the Downtown Line (DTL) operations.

Our FY15-16 EPS estimates are raised by 10%-18%, to reflect the lower energy prices and reduced losses from DTL as later stages turn operational.

Energy cost is the main FY15/16 positive, the GCM is a FY16/17 positive.

Reiterate Add, with a higher DCF-based target price of S$3.42 (WACC: 7.5%).


Source: CIMB

https://brokingrfs.cimb.com/iR0xgvyBRli ... iZeWo1.pdf

[winston]

not vested

Comfortdelgro Corp ST: the upside prevails as long as 2.81 is support <CMDG.SI>

Click here to see our chart:
https://private.tradingcentral.com/char ... 004216.gif

Our pivot point stands at 2.81.

Our preference: the upside prevails as long as 2.81 is support.

Alternative scenario: the downside breakout of 2.81 would call for 2.65 and 2.55.

Comment: the RSI is above its neutrality area at 50. The MACD is positive andabove its signal line.

The configuration is positive. Moreover, the stock is above its 20 and 50 day MA (respectively at 2.74 and 2.64).

ComfortdelgroCorp is currently trading near its 52 week high reached at 3.1 on 04/02/15.

Supports and resistances: 3.5 **3.4 *3.3 **3.2 2.97 last 2.88 2.81 **2.65 *2.55 **

Source: TRADING CENTRAL

[winston]

not vested

Time: 4:49PM
Exchange: SGX
Stock: ComfortDelGro(C52)
Signal: Resistance - Breakout with High Volume
Last Done: $3.11

Source: UOBKH

[winston]

not vested

Time: 1:39PM
Exchange: SGX
Stock: ComfortDelGro(C52)
Signal: Resistance - Breakout with High Volume
Last Done: $3.11

Source: UOBKH

[winston]

not vested

Last price: S$3.02

Technically, should ComfortDelGro Corporation (CD) continue to trade above S$2.90, it may raise the odds for a breakout above S$3.08 and it could trade towards S$3.40.

In our Regional Morning Notes dated 22 Jan 15, our institutional research maintains our BUY recommendation for the stock with a DCF-based target price of S$3.08.

At our target price, the implied 2015F PE of 21.2x is close to its +1SD P valuation but we believe this is deserved given its strong earnings track record and cash flow.

We raise our fare assumptions and lower fuel and electricity costs to reflect the hedges CD undertook for its 2015 and 2016 requirements.

As a result, 2015 and 2016 earnings have been revised upwards by 3.5% and 3.7% respectively.

Our 2014 earnings remain unchanged as fare hikes are only effective from 2015 onwards and fuel costs remain largely unaffected as most of the component has been hedged since 2013.

Source: UOBKH

[winston]

not vested

Time: 10:23AM
Exchange: SGX
Stock: ComfortDelGro(C52)
Signal: Bearish MACD Crossover
Last Done: $2.84

Source: UOBKH

[winston]

not vested

CD remains one of our top 5 Buy picks in Singapore

Our DCF-based TP valuation implies 22% upside potential from current levels.

We use a 7.4% cost of equity (2.9% rf rate, 4.5% ERP, beta of 1, 0% Debt/Equity ratio) as well as a 1% terminal growth rate in deriving TP.

Downside risks: lower-than-assumed Singapore bus and rail margins; radical increase in competition; stronger SGD resulting in poorer overseas profits.

Source: DB

[winston]

not vested

ComfortDelGro Corp Ltd – Advantage of incumbency and experience failed to give an edge
Recommendation: Reduce
Closing price: S$3.00
Target price: S$2.97

Outcome of the first bus package tender announced by LTA

ComfortDelGro's 75%-owned subsidiary, SBS Transit, failed to secure the package

Maintain "Reduce" rating with unchanged target price of S$2.97

Source: Phillips

[winston]

not vested

ComfortDelGro Corp Ltd – Advantage of incumbency and experience failed to give an edge
Recommendation: Reduce
Closing price: S$3.00
Target price: S$2.97

Outcome of the first bus package tender announced by LTA

ComfortDelGro's 75%-owned subsidiary, SBS Transit, failed to secure the package

Maintain "Reduce" rating with unchanged target price of S$2.97

Source: Phillips