SINGAPORE (Mar 22): Phillip Capital is maintaining an “overweight” for Singapore’s land transport sector on regulatory reviews and changes with ComfortDelGro (CDG) its top “buy” pick with a $2.50 target.

In addition, regulatory changes on fare formula and licensing of private-hire car companies could be catalysts for a re-rating for the stock.

In a Thursday report, analyst Richard Leow says, “We forecast CDG's earnings to have bottomed in FY17, with the Public Transport Services segment largely driving earnings going forward.”

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