ComfortDelGro - UOB Kay Hian 2024-08-16: Strong 2Q24 In Line, Boosted By A2B & UK Business

• We opine that there is now limited upside at current price levels, despite ComfortDelGro’s lush 5.1% dividend yield and robust balance sheet. With no significant near-term catalysts, we recommend investors to take profit on any potential run-up in ComfortDelGro's share price close to our target price.

Strong results.

• - Read this at SGinvestors.io -
• Both core operating and PATMI margin expanded by 0.3ppt y-o-y in 1H24.

Robust quarter.

• - Read this at SGinvestors.io -
• Both core operating profit margin (+0.6ppt y-o-y, +1.9ppt q-o-q) and PATMI margin expanded (+0.1ppt y-o-y, +0.9ppt q-o-q) in 2Q24.

Higher dividend.

• 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:
2025-11-13 ComfortDelGro - 3Q25 Largely In Line; Powered By Overseas Gains.

Previous report by UOB:
2025-06-11 ComfortDelGro - Increased Taxi Competition Starting 2H25, Plans To Raise Overseas Exposure.

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