Reuters: Hot Stocks: STOCKS NEWS SINGAPORE-OCBC starts hold on ComfortDelGro

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STOCKS NEWS SINGAPORE-OCBC starts hold on ComfortDelGro May 23rd 2012, 02:11 Tue May 22, 2012 10:11pm EDT OCBC Investment Research initiated a hold rating and a target price of S$1.53 on Singapore transport operator ComfortDelGro Corp Ltd, whose main operating segments are buses and taxis. Its shares eased 0.7 percent to S$1.47, faring slightly better than the benchmark Straits Times Index, which lost 1.2 percent. The stock has gained nearly 4 percent so far this year. For the 2003-2011 fiscal years, ComfortDelGro's revenue grew at a "decent" compound annual growth rate of 8 percent, and its recent first-quarter results showed broad-based increases across most operating segments, OCBC said. OCBC projected ComfortDelGro's revenue to continue its upward trajectory, although at a slower pace, on the back of rising ridership levels on its bus and rail operations, greater fleet utilisation and more cashless transactions in its Singapore taxi business. But OCBC said the company's operating margins may face some pressure from regulations and public sentiment that could make it harder to raise fares, and higher operating expenses and expansion costs related to the upcoming Downtown Line in Singapore. 0952 (0152 GMT) For a related story, click link.reuters.com/puc48s (Reporting by Eveline Danubrata in Singapore; eveline.danubrata@thomsonreuters.com) ********************************************************** 08:54 STOCKS NEWS SINGAPORE-Index futures fall 0.8 pct Singapore index futures fell 0.8 percent early on Wednesday, indicating a lower start for the benchmark Straits Times Index. Seoul shares fell 1.3 percent, Australian shares retreated 1.1 percent, and Tokyo shares lost 1 percent in early Asian trading. 0848 (0048 GMT) (Reporting by Eveline Danubrata in Singapore; eveline.danubrata@thomsonreuters.com) Link this Share this Digg this Email Reprints

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