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ComfortDelGro faces 'restructuring whimper' but retains positive cash flow: PhillipCapital

Chloe Lim
Chloe Lim11/17/2021 2:34 PM GMT+08  • 2 min read
ComfortDelGro faces 'restructuring whimper' but retains positive cash flow: PhillipCapital
Phillip Securities Research lowers ComfortDelGro TP from $1.83 to $1.80, claims 3QFY2021 earnings were below expectations
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Phillip Securities Research analyst Paul Chew maintains a ‘buy’ rating on ComfortDelGro, with a modestly lowered target price from $1.83 to $1.80.

According to the analyst, 3QFY2021 earnings were below expectations. This comes when the 9MFY2021 revenue and PATMI was 70%/60% of the FY2021e forecast respectively.

ComfortDelGro’s revenue for 3Q2021 was $880.3 million (compared to $820 million in 3Q2020), experiencing a 7.4% y-o-y increase.

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