ComfortDelGro - RHB Research 2025-05-30: Winning At Home, Reaching Out; Keep BUY

• ComfortDelGro’s plan to bid for Melbourne’s metro system from 2027, if successful, is set to further strengthen its presence in Australia. This follows its recent rail contract wins in Auckland, Paris, and Stockholm, underscoring ComfortDelGro’s strategy to scale in stable, regulated markets.
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• We remain positive on ComfortDelGro for its mid-teens earnings growth and above-market dividend yield.

Build its rail presence in Australia as part of its broader international expansion strategy.

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• The Melbourne metro is currently operated by a JV led by Hong Kong’s MTR. With annual revenue potential of >S$2bn, this network presents significant commercial potential. A successful bid would enable ComfortDelGro to expand its well-established presence in Australia, where it already operates buses and the country’s largest taxi fleet. This strategic move would deliver operational synergies, elevate service standards, and reinforce its standing as a competitive global transport operator.

ComfortDelGro’s international rail expansion.

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Above is an excerpt from a report by RHB Securities Research.
Clients of RHB may be the first to access the full PDF report @ https://www.rhbtradesmart.com/.

Previous report by RHB:
2025-05-15 ComfortDelGro - 1Q25 Results Largely In Line; BUY.

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 Dividend Payout Dates & Corporate Actions,
ComfortDelGro News