ComfortDelGro - UOB Kay Hian 2023-08-21: No Longer In The West For Now

• LTA announced the tender results for the Bukit-Merah and Jurong-West bus packages whereby the incumbent, ComfortDelGro (SGX:C52)’s subsidiary SBS Transit (SGX:S61), won the tender for the Bukit-Merah bus package but lost the latter.
• - Read this at SGinvestors.io -
• Maintain BUY with a higher target price of S$1.56 (S$1.53 previously).

Competition heats up.

• Singapore’s Land Transport Authority (LTA) announced the results for the Bukit-Merah and Jurong-West bus packages whereby
  • - Read this at SGinvestors.io -
  • However, SBS Transit lost the tender for the Jurong-West bus package and would be handing the operations over to local competitor, SMRT Buses, by Sep 24.
• Despite the loss of the Jurong-West bus package, SBS Transit still retains the largest market share of 55%, managing eight bus packages by Sep 24.

Lowest bid wins.

• Read more at SGinvestors.io.

Above is an excerpt from a report by UOB Kay Hian Research.
Clients of UOB Kay Hian may be the first to access the full PDF report @ https://www.utrade.com.sg/.

Read also UOB's most recent report:
2025-04-15 ComfortDelGro 1Q25 Earnings Preview - Expect Strong Year-on-year Growth.

Previous report by UOB:
2025-04-04 ComfortDelGro - New Entrant, More Competition.

Price targets by 5 other brokers at ComfortDelGro Target Prices.

Listing of research reports at ComfortDelGro Analyst Reports.

Relevant links:
ComfortDelGro Share Price History,
ComfortDelGro Announcements,
ComfortDelGro Dividend Payout Dates & Corporate Actions,
ComfortDelGro News