ComfortDelGro Corporation (SGX: C52), or CDG, has enjoyed a reprieve of sorts. After touching a 52-week low of S$1.01 back in June 2023, the land transport giant’s share price rebounded by 35.6% to close at S$1.37. The shares are also up 16% in the past year as investors feel more optimistic about CDG’s business. The group has pulled off a series of acquisitions in the past 18 months. Can CDG’s share price continue to rise in the coming months? Let’s find out.

A strong set of earnings

CDG recently released an encouraging set of results for 2023. Revenue inched up 2.6% year on year to S$3.9 billion with operating profit creeping up 0.8% year on year to S$272.1 million. Net profit improved by 4.3% year on year to S$180.5 million. However, 2022’s net profit included a one-off S$30.5 million gain on the disposal of Alperton property in London. Excluding this item, core net profit would have climbed 26.6% year on year....