We remain positive about ComfortDelGro's growth in the public transportation business, profit contributions from new acquisitions and likely improvement in taxi earnings amid a lack of competition from ride-hailing players.However, after delivering around 21 per cent returns in the year-to-date period, ComfortDelGro seems fairly priced.Investors could consider buying ComfortDelGro again, if the share price drops below $2.50.
It has first-mover advantage in Tier-2 cities Chongqing, Bishan, Kunming and Hefei to capitalise on expanding private consumption appetite and rising number of middle-income households. This structure enables the Reit to deliver a balance of stability from the fixed component and growth through tenant sales performance.
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