Shares & Derivatives
Comfort Delgro sinks to 14-year low! Will it go lower? (19 Jan 2023)
By Ernest Lim's investing blog  •  January 19, 2023
Dear all On 11 Jan, Comfort (CD) closed at $1.21, the lowest close since 31 Oct 2008. The next day, to the horror of CD’s shareholders, it broke $1.21 with volume expansion and closed at $1.18. At the time of this write-up, CD closed today at $1.14, the lowest close last seen 29 Oct 2008. Will CD fall more? Or will this be a comfortable trade at current level? Let’s read on for more. Possible reasons to be bullish A) Still a recovery play CD with its operations in Australia, China, Singapore, UK etc. should gradually benefit as economies re-open. China’s abrupt easing of its Covid measures will likely facilitate more commuting and travelling in China and outside China. Based on Bloomberg, the consensus from analysts is still projecting CD to post a year-on year (“y-o-y”) net profit growth of 30% in FY22F; 16% in FY23F; 7% in FY24F. Thus, suffice to say that CD is still a recovery play and is likely to post year on year profit growth....
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By Ernest Lim's investing blog
I am an avid investor, trader cum remisier. I am a Chartered Financial Analyst® charterholder, as well as, a Chartered Accountant of Singapore. I have published articles on a wide range of topics on finance and investment, ranging from market / sector outlook, technical analysis and fundamental analysis etc.

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