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Brokers' take

Published Tue, Oct 30, 2018 · 09:50 PM — Updated Tue, Oct 30, 2018 · 09:50 PM

ComfortDelGro | Buy Fair value: S$2.72 Oct 30 close: S$2.22 KGI Securities, Oct 30

ComfortDelGro's share price dropped as much as 6 per cent on heavy volume on Oct 10 following media reports that Indonesia's ride-hailing company, Go-Jek, has decided to enter the Singapore market by itself, and will not be partnering ComfortDelGro as was initially expected.

However, we believe the impact on ComfortDelGro's taxi business will not be as severe as during the Uber/Grab's fight for market dominance that was simply not sustainable.

Brokers' Take

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