Dear all

Comfort Delgro (“CD”) closed at $1.03 today. Based on Bloomberg, this was the lowest close last seen on 18 Mar 2004. The main reason cited for this recent drop was that Citi has reduced its target price for CD from $1.63 (26 Feb 2023) to $1.32 (2 Jun 2023). Nevertheless, they maintained their buy call.

Is it all doom and gloom? Should we throw in the towel and just give up on CD?

Personally, I find CD interesting at current levels. Before I delve into it, just for record purpose, I have a previous article on CD published on 19 Jan 2023 (click HERE) where we had taken profit.

At $1.03, this looks very interesting. Let’s take a look.

Possible reasons to be bullish

A) Sequential improvement in the coming quarters

Based on the analyst reports which I read, most of them believe that CD should see