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

• 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.

• - Read this at SGinvestors.io -
• 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.

• 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:
2025-06-11 ComfortDelGro - Increased Taxi Competition Starting 2H25, Plans To Raise Overseas Exposure.

Previous report by UOB:
2025-05-15 ComfortDelGro - 1Q25 In Line, Expect Stronger Sequential Growth.

Price targets by 3 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