ComfortDelGro's Earnings Improvement Should Persist -- Market Talk

Dow Jones2023-08-16

0310 GMT - ComfortDelGro's earnings advances should persist, RHB Research analyst Shekhar Jaiswal says in a research report, as analyst raises the stock's target price to S$1.40 from S$1.35 with an unchanged buy rating. RHB is optimistic about the increase in the Singapore transportation company's profit amid a brightening outlook for its U.K. public transport and Singapore taxi and private-hire businesses. The company unveiled a revised growth strategy focusing on improving core performance, addressing competitive pressures and developing future growth engines, the analyst says. ComfortDelGro also updated its dividend policy to pay at least 70% of profit after tax and minority interests, up from 50% earlier, the analyst adds. Shares are unchanged at S$1.27. (ronnie.harui@wsj.com)

(END) Dow Jones Newswires

August 15, 2023 23:10 ET (03:10 GMT)

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The company unveiled a revised growth strategy focusing on improving core performance, addressing competitive pressures and developing future growth engines, the analyst says. ComfortDelGro also updated its dividend policy to pay at least 70% of profit after tax and minority interests, up from 50% earlier, the analyst adds. Shares are unchanged at S$1.27. 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