ComfortDelGro - UOB Kay Hian 2024-01-11: Riding Strong Into 2024

ComfortDelGro - Riding Strong Into 2024

ComfortDelGro (SGX:C52) | SGinvestors.ioComfortDelGro (SGX:C52)
  • 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.
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  • 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.

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  • 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.

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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 @

Llelleythan Tan UOB Kay Hian Research | Heidi Mo UOB Kay Hian | 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 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


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