- Huge mismatch between improving mobility vs ComfortDelGro (SGX:C52)'s valuation is an opportunity – Even though ComfortDelGro is in the slow lane of passenger land mobility, the dismal performance of ComfortDelGro's share price despite improved mobility amid easing restrictions in recent times is an enigma to us.
- - Read this at SGinvestors.io -
Taxi: From outright traditional taxi rental model to rental-cum-commission model.
- - Read this at SGinvestors.io -
- With the taxi fleet size (LTA Jul 2022 statistics) at ~8.7k and rental discount of 15% remaining, the market could be sceptical of ComfortDelGro’s operating performance, thinking that its taxi could be stuck at the bottom. However, we think there could be a silver lining instead. We note that there has been a pivot of ComfortDelGro’s management of its taxi revenue towards the rental-cum-commission based model, away from its traditional model of fleet size and rental rates to drive top-line.
- Read more at SGinvestors.io.
Above is the excerpt from report by DBS Group Research.
Clients of DBS may access the full report in PDF @ https://www.dbs.com/insightsdirect/.
Andy SIM CFA DBS Group Research | Singapore Research Team DBS Research | https://www.dbs.com/insightsdirect/ 2022-10-20
Read also DBS's most recent report:
2024-03-11 ComfortDelGro - 3 Reasons For A Share Price Re-rate.Previous report by DBS:
2023-11-15 ComfortDelGro - UK Public Transport Turning A Corner.Price targets by 7 other brokers at ComfortDelGro Target Prices.
Listing of research reports at ComfortDelGro Analyst Reports.
Relevant links:
ComfortDelGro Share Price History,
ComfortDelGro Announcements,
ComfortDelGro Dividends & Corporate Actions,
ComfortDelGro News Articles
