Broker's take: DBS maintains 'buy' on ComfortDelGro amid extended support for industry

📆 2020-09-16 3:23 AM
📰 BusinessTimes

⏱ Reading Time:
30 sec. here
2 min. at publisher
📊 Quality Score:
News: 15%
Publisher: 51%

Canada News News

Canada Canada Latest News,Canada Canada Headlines

DBS Group Research has maintained its 'buy' recommendation on transport operator ComfortDelGro with a target price of S$1.96, amid recent announcements in the sector, including extended support for cabbies and private hire drivers. Read more at The Business Times.

DBS noted that the extension of the rental waiver from ComfortDelGro is"not totally surprising", given the gradual recovery in ridership. The research team views the extension of the SRF as a"welcome relief" to support the industry and ease the burden on transport operators.

Separately, LTA has also announced that new applicants for the Private Hire Car Driver Vocational Licence must be Singapore citizens who are at least 30 years old, with a minimum of one year's driving experience. This aligns with the requirements for taxi drivers. It added that the occurrence of the Covid-19 pandemic and its impact could catalyse a consolidation of the P2P industry. With private rental car fleet in Singapore ballooning to over 70,000 vehicles, along with a current fleet of 16,000 taxis, this would cause the weaker players to exit the industry, DBS said.

We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:

Write Comment

Canada Canada Latest News, Canada Canada Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Stocks to watch: UOB, DBS, OCBC, Singapore Airlines, ESR-Reit, Sabana Reit, Q&M DentalTHE following companies saw new developments that may affect trading of their securities on Wednesday: Read more at The Business Times.
Source: BusinessTimes - 🏆 15. / 51 Read more »