SINGAPORE (June 27): RHB Research is keeping its "buy" call on ComfortDelgro but lowering its target price to $3.25 to $3.40 after lowering its earnings by 4-4.8% for FY2016 and FY2017.
The earnings adjustment takes into account the lower earnings from the UK taxi business, and a translation loss for its UK businesses arising from the weaker GBP.
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