ComfortDelGro - UOB Kay Hian 2024-04-23: Backed By Favourable Tailwinds

ComfortDelGro - Backed By Favourable Tailwinds

ComfortDelGro (SGX:C52) | SGinvestors.ioComfortDelGro (SGX:C52)
  • ComfortDelGro’s wholly-owned UK subsidiary has been awarded four new public bus contracts. We maintain our expectations that ComfortDelGro would post a strong 1Q24 driven by favourable tailwinds for both the public transport services and taxi segments.
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  • ComfortDelGro remains one of our conviction picks for 1H24. In view of improving fundamentals and a lush 5.5% dividend yield, we maintain BUY and a higher ComfortDelGro target price of S$1.72.

Strong end to 1Q24.

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  • Backed by higher rail fares implemented in Dec 23 along with increased margins from ongoing UK bus contract renewals, we maintain our expectations that ComfortDelGro’s public transport services segment would post higher revenue and profitability for 1Q24.

Awarded UK bus contracts.

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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 Yi Rong UOB Kay Hian Research | Heidi Mo UOB Kay Hian | 2024-04-23

Read also UOB's most recent report:
2024-05-15 ComfortDelGro - 1Q24 Earnings Below Expectations; Downgrade To HOLD.

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 Dividends & Corporate Actions,
ComfortDelGro News Articles


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