Broker Name: CGS International
Date of Report: March 2, 2026
Excerpt from CGS International report.
- Report Summary
- ComfortDelGro achieved record revenue in 2025, with 54% coming from overseas operations, driven by London bus contracts, Addison Lee acquisition, and ERP 2.0 project in Singapore.
- Earnings for FY26 are expected to remain resilient, supported by rail fare hikes in Singapore and continued margin improvements in the UK, along with ongoing global expansion.
- The company is accelerating its smart mobility strategy, targeting autonomous vehicles and increasing its hybrid/electric fleet to meet decarbonisation goals.
- Dividend yields are projected at 5-6% for FY26-27, with a maintained Add rating and target price of S\$1.70, based on strong UK contributions and global tender opportunities.
- ComfortDelGro’s ESG profile is strong, with ongoing efforts in fleet decarbonisation, inclusion in sustainability indices, and industry-leading reliability for its MRT operations.
Above is an excerpt from a report by CGS International. Clients of CGS International can be the first to access the full report from the CGS International website: https://www.cgs-cimb.com/
