TRANSPORT REMAINS ONE of Credit Suisse’s preferred sectors in the Singapore market with Singapore Airlines and Neptune Orient Lines among its top stock picks, after both counters saw a sequential pick-up in demand. But the Swiss investment bank is avoiding SMRT.

“Within Singapore, transport is one of our preferred sectors. In view of the bearish consensus outlook as well as high operating leverage for the sector, we see substantial potential earnings upgrades here — especially as revenues recover,” say Credit Suisse analysts in a Singapore Market Strategy report on Sep 4.