DBS Group Research on Thursday said that the market has not priced in a Phase Three Singapore reopening for ComfortDelGro Corporation, raising its target price to S$1.96 from S$1.63 and reiterating its"buy" call.
Shares of the mainboard-listed transport operator slipped S$0.02 or 1.3 per cent to S$1.49 as at 11.02am on Friday. Referencing community mobility data from Google, DBS analyst Andy Sim said there has been a gradual increase in mobility since the Phase Two reopening on June 19, indicating that people have been moving around more.
"With the continued low infection rates and potential for further easing in Singapore towards Phase Three, we could see mobility figures take a further turn up," he said. Thus, a Phase Three reopening could be a near-term catalyst. Mobility figures for residential areas should drop, while those for transit, retail and recreation and workplaces should increase as seen in Phase Two, Mr Sim added. This comes as more workers return to offices, leading to a rise in commuting.
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:
Malaysia Malaysia Latest News, Malaysia Malaysia Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
DBS sees robust growth in private banking business, led by family officesSINGAPORE - DBS Group's private banking unit has seen its business activity rebound to pre-COVID levels and aims to grow assets under management by 7-8% next year as it seeks a bigger share of the world's-fastest growth wealth market, a top executive said.
Source: TODAYonline - 🏆 1. / 99 Read more »
DBS sees strong growth in private bank businessDBS Private Bank (DBS PB) has generated strong growth in assets under management (AUM) this year, despite the market volatility and economic uncertainty brought on by Covid-19. Read more at The Business Times.
Source: BusinessTimes - 🏆 15. / 51 Read more »
DBS gets nod to set up joint venture securities company in ChinaSINGAPORE (THE BUSINESS TIMES) - DBS Group has received the green light from the China Securities Regulatory Commission (CSRC) to establish a joint venture (JV) securities company known as DBS Securities (China), in which DBS will have a controlling stake of 51 per cent.. Read more at straitstimes.com.
Source: The Straits Times - 🏆 8. / 63 Read more »
DBS gets regulatory nod to set up JV securities company in ChinaDBS Group has received the green light from the China Securities Regulatory Commission (CSRC) to establish a joint venture (JV) securities company known as DBS Securities (China), in which DBS will have a controlling stake of 51 per cent. Read more at The Business Times.
Source: BusinessTimes - 🏆 15. / 51 Read more »