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0448 GMT - ComfortDelGro faces earnings hit from some headwinds, UOB Kay Hian analysts say in a research report. These include higher fuel costs, contraction of its Singapore taxi fleet, and competitive pressures in Australia. Its taxi/point-to-point segment's 1Q core operating profit slumped 45% from a year earlier, the analysts note. The transportation services provider's A2B taxi network operator faced intensifying ride-hailing competition and cautious consumer spending in Australia. The brokerage cuts its 2026-2028 earnings forecasts for ComfortDelGro by 19%. It also downgrades the stock's rating to hold from buy and lowers the target price to S$1.54 from S$1.82. Shares are unchanged at S$1.28. (ronnie.harui@wsj.com)
(END) Dow Jones Newswires
May 18, 2026 00:48 ET (04:48 GMT)
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