ComfortDelGro Appears to Lack Strong Share Catalysts
Dow Jones
Yesterday
0544 GMT - Transport operator ComfortDelGro seems to lack strong share catalysts, says Eric Ong at Maybank Securities in a note. While the impending Singapore public transport fare increase offers some relief from sharply higher fuel costs, the adjustment is unlikely to fully offset higher expenses, he says. Meanwhile, competition in the local taxi market shows no signs of easing, with Alphabet's Waymo set to launch driverless ridehailing services in the city-state from 2028, the analyst adds. Maybank sees ComfortDelGro's valuations and dividend yield as decent but retains its hold and target price of 1.45 Singapore dollars. Shares are up 1.6% at S$1.28.
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