ComfortDelGro (CDG)
17 Apr 2019
SINGAPORE (Apr 17): OCBC Investment Research is keeping its “hold” call on ComfortDelGro (CDG), but raising its fair value estimate to $2.63 from $2.38 on the back of improved market sentiment for the public transport operator.
Analyst Low Pei Han notes that the share price of CDG’s 74.5%-owned subsidiary SBS Transit has climbed around 56% year-to-date.
She adds that this has been ...
SINGAPORE (Apr 3): RHB Securities is staying positive on ComfortDelGro’s growth in the public transportation sector but after delivering 21% YTD returns, the stock now seems fairly priced at $2.59.
While CD’s dividend yield of 4% is still above the 10-year bond yield of 2.1%, RHB says this has fallen a tad below the STI’s 4.1% dividend yield.
“We deem it difficult for CD to continue ...
04 Mar 2019
SINGAPORE (Mar 4): Maybank Kim Eng is starting coverage on ComfortDelGro (CDG) at “hold” with a target price of $2.45.
This comes on expectations the group’s transport focus and global expansion, which will provide a decent shelter amid private taxi-hailing competition, has been priced into valuations of 17 times 2019E-20E P/E.
In an initiation report on Sunday, analyst Luis Hilado ...
SINGAPORE (Feb 15): RHB Research has upgraded ComfortDelGro to “buy” with $2.65 target price given the stock could re-rate further on expected strong profit contribution from new acquisitions, continuing organic growth in public transport business and lack of material rise in competition so far from private hire car players in its taxi business.
ComfortDelGro’s FY18 PATMI came in at $303 ...
13 Feb 2019
SINGAPORE (Feb 13): ComfortDelGro, one of the world’s largest land transport companies, today announced that its FY18 earnings have increased by 0.6% to $303.3 million, compared to $301.5 million in FY17.
However, adjusting for the one-off special dividend from A2B Australia Limited in 2017 and the net gain on the Surrender of lease of the property at Teban Gardens from VICOM in 2018, ...
SINGAPORE (Feb 8): ComfortDelGro, the world’s second largest listed passenger land transport company, is announcing its 4Q18 results ended Dec on Feb 13.
UOB KayHian expects the transport operator to see a 5% y-o-y fall in FY18 revenue of $3.8 billion and a 4% y-o-y rise in core PATMI of $300 million, implying a core PATMI margin of 7.9%.
A sharper-than-expected decline in the taxi ...
SINGAPORE (Jan 23): RHB Research has an “overweight” rating on banks for the sector’s strong growth and high yields; the consumer and industrial space as defensive sector picks; as well as REITs that are beneficiaries of improving economic activity, and/or with strong balance sheets.
This comes post recent Singapore equity strategy investor meetings in Malaysia and Singapore, where RHB ...
SINGAPORE (Dec 21): DBS has a “neutral” rating on Singapore’s transport sector in 2019, with hopes that a better-than-expected economic growth and activity globally would help improve demand volume and pricing for the transport sector.
This in turn should help improve ROEs, which have been under pressure for the past few years.
The research house has ComfortDelGro and ST Engineering ...
SINGAPORE (Nov 30): OCBC Investment Research is maintaining “neutral” on the Singapore industrials sector, indicating a preference for ST Engineering and Singapore Airlines (SIA) due to their earnings resilience and low valuations, respectively.
Both stocks have been rated “buy” with fair value estimates of $3.95 for ST Engineering and $10.71 for SIA, which was upgraded in mid-Oct on ...
SINGAPORE (Nov 12): RHB Research is maintaining ComfortDelGro at "hold" given rising competition from Singapore private hire car (PHC) players could keep its share price in check in the near term.
In 9M ended Sept, ComfortDelGro reported profit of $220 million, making up 67% of RHB’s estimates. Higher costs for staff, fuel and repair and lower-than-estimated profit from taxi were key reasons ...