SINGAPORE (Nov 16): Nomura reiterates its “buy” view and $3.59 target on ComfortDelGro after the Singapore-listed public transport operator reports earnings that were within expectations.

Nomura says Uber Technologies and other chauffeured vehicle services have only had a "muted" impact on ComfortDelGro, while the company has responded by improving its taxi-booking app and payment systems.

The company's management believes that the chauffeured vehicle services firms are "serving a market segment that traditional taxi companies are not able to cater to" such as peak period demand, Nomura says.

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