ComfortDelGro - UOB Kay Hian 2023-12-06: 1H24 Conviction Pick; Expect A Strong Finish To 2023

• ComfortDelGro’s public transport segment is set to benefit from the upcoming 7% increase in public transport fares from Dec 23, coupled with ongoing UK bus contract renewals and cost indexation. While there is no change to ComfortDelGro’s taxi commission rate for Dec 23, we anticipate an upward revision in 2024 given the substantial gap from peers.
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No changes to taxi rental rebates and commission rates.

• We understand that there have been no changes to ComfortDelGro (SGX:C52)’s 10% daily taxi rental rebate and the 5% online booking commission rate through its Zig app for Dec 23.
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Stable ridership and taxi demand.

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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