ComfortDelGro (CDG)

ST Eng, SIA named OCBC's top sector picks for resilience and low valuations
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 ...
ComfortDelGro kept at ‘hold’ by RHB as rising taxi competition stays a risk
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 ...
Ride-hailing rivalry, goodies unlikely to return to 'good old days'
SINGAPORE (Oct 31): DBS Group Research says the competition and level of subsidies seen during the Grab vs Uber era are unlikely to return. This is because the outcome of the first round of competition has not been particularly smooth for the players and the acquisition of Uber’s Singapore operations by Grab had resulted in fines by the competition watchdog. On Monday, Grab’s next rival ...
Is Go-Jek’s entry a worry for ComfortDelGro?
(Oct 11): CIMB-CGS Securities says potential private hire car entrant Go-Jek should not be a worry for ComfortDelGro, at least in the immediate term. With the lack of a sizeable domestic app user base providing ample demand for taxi drivers to switch over, Go-Jek will need to go after Grab’s private hire car (PHC) driver base first to form the supply, says CIMB-CGS. Still, there is the ...
Gradual turnaround of taxi operations keeps ComfortDelGro at 'buy'
SINGAPORE (Sept 4): DBS Group Research is maintaining its forecasts and “buy” recommendation for ComfortDelGro. This comes as its taxi fleet contraction bottoms out, giving way to expansion on the back of a milder competitive environment. Furthermore, the group has been leveraging on its balance sheet to pursue inorganic growth opportunities to supplement growth. In addition, a fare ...
ComfortDelGro stock rises from the ashes of Uber's demise
SINGAPORE (Aug 8): In a little over seven months, Singapore’s largest taxi company has reversed course from the city-state’s second-worst performing stock to its best, as competition for passengers eased following Uber Technologies Inc.’s exit from Southeast Asia. ComfortDelGro has rallied 20% this year, against the benchmark Straits Times Index’s 2.2% decline. The company’s shares ...
Grab defends position in Uber deal to Singapore's anti-monopoly watchdog
SINGAPORE (July 27): Grab said on Friday it disagreed with the Singaporean anti-monopoly watchdog’s assessment that its takeover of Uber’s operations had harmed competition and called the commission’s suggested measure of removing exclusivity arrangements with drivers as “one-sided”. Earlier this year, Uber Technologies sold its Southeast Asian business to bigger regional rival Grab ...
Competition within ride-hailing business unlikely to intensify despite proposals, penalties
SINGAPORE (July 6): DBS says that the path and eventual outcome of the Grab-Uber merger remains uncertain. This comes on the back of Thursday's announcement by Competition and Consumer Commission of Singapore (CCCS) that the Grab-Uber merger has significantly reduced competition in the ride-hailing business in Singapore. According to CCCS, the transaction has infringed section 54 of the ...
Improvement in ComfortDelGro taxi operations seen; DBS upgrades it to 'buy'
SINGAPORE (July 4): ComfortDelGro is expected to post a smaller decline in 2Q profits compared to a year ago, which would mean an improvement in operations, say analysts. A stronger-than-expected expansion in taxi fleet, and partnership with private ride-hailing companies could be catalysts while regulatory changes could aid its taxi operations. Inorganic growth acquisitions could also ...
ComfortDelGro kept at 'accumulate' as worst looks over for taxi trade
SINGAPORE (June 18): Phillip Securities is maintaining its “overweight” on the land transport sector given the positive industry restructuring and the worst being over for the taxi industry. This comes after Taxi Driver Vocational Licence (TDVL) data for April published by the Land Transport Authority showed a spike. TDVL issued in April was almost four times more than a year ago, while ...