- ComfortDelGro’s taxi commission rate has been raised from 5% to 7% from 1 Jan 24, largely in line with our expectations. However, ComfortDelGro has also perpetuated its 10% taxi rental rebates from 2024 onwards which was a slight negative surprise.
- - Read this at SGinvestors.io -
- With ComfortDelGro’s decent 4.2% dividend yield, we maintain BUY with a slightly lower target price of S$1.66 (S$1.69 previously).
Change to taxi commission rates and permanent rental rebates.
- - Read this at SGinvestors.io -
- To help taxi drivers cope with higher costs, ComfortDelGro also announced that the 10% taxi rental rebate has been made permanent from the same date, while commission charges from Jan-Mar 24 for trips priced S$9 and below would be temporarily waived.
No major surprise.
- Read more at SGinvestors.io.
Above is the excerpt from report by UOB Kay Hian Research.
Clients of UOB Kay Hian may be the first to access the full report in PDF @ https://www.utrade.com.sg/.
Llelleythan Tan UOB Kay Hian Research | Heidi Mo UOB Kay Hian | https://research.uobkayhian.com/ 2024-01-11
Read also UOB's most recent report:
2024-03-28 ComfortDelGro - Expect A Strong Start To 2024.
Previous report by UOB:
2024-03-04 ComfortDelGro - 2023 In Line; Bright Spots In 2024.
Price targets by 6 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
