ComfortDelGro Faces Earnings Hit From Shrinking Taxi Fleet in Singapore -- Market Talk

Dow Jones

03/05

0317 GMT - ComfortDelGro faces an earnings hit from a shrinking tax fleet in Singapore, Phillip Securities Research's Paul Chew says in commentary. Its taxi fleet is contracting at a swifter pace, with the fleet size falling 8.7% on year in 4Q 2025, double the 4.1% drop in 4Q 2024, the head of research notes. There are no indication that the fleet-size contraction will stabilize as competition for drivers intensify, Chew says. The brokerage cuts its 2026 earnings forecast for the multi-modal transport operator by 11%. It lowers the stock's target price to S$1.50 from S$1.62, with an unchanged accumulate rating. Shares are 2.1% higher at S$1.47. (ronnie.harui@wsj.com)

(END) Dow Jones Newswires

March 04, 2026 22:17 ET (03:17 GMT)

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Its taxi fleet is contracting at a swifter pace, with the fleet size falling 8.7% on year in 4Q 2025, double the 4.1% drop in 4Q 2024, the head of research notes. There are no indication that the fleet-size contraction will stabilize as competition for drivers intensify, Chew says. The brokerage cuts its 2026 earnings forecast for the multi-modal transport operator by 11%. It lowers the stock's target price to S$1.50 from S$1.62, with an unchanged accumulate rating. Shares are 2.1% higher at S$1.47. 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Its taxi fleet is contracting at a swifter pace, with the fleet size falling 8.7% on year in 4Q 2025, double the 4.1% drop in 4Q 2024, the head of research notes. There are no indication that the fleet-size contraction will stabilize as competition for drivers intensify, Chew says. The brokerage cuts its 2026 earnings forecast for the multi-modal transport operator by 11%. It lowers the stock's target price to S$1.50 from S$1.62, with an unchanged accumulate rating. Shares are 2.1% higher at S$1.47. 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Its taxi fleet is contracting at a swifter pace, with the fleet size falling 8.7% on year in 4Q 2025, double the 4.1% drop in 4Q 2024, the head of research notes. There are no indication that the fleet-size contraction will stabilize as competition for drivers intensify, Chew says. The brokerage cuts its 2026 earnings forecast for the multi-modal transport operator by 11%. It lowers the stock's target price to S$1.50 from S$1.62, with an unchanged accumulate rating. Shares are 2.1% higher at S$1.47. (ronnie.harui@wsj.com) \n\n\n \n\n\n  (END) Dow Jones Newswires\n\n\n  March 04, 2026 22:17 ET (03:17 GMT)\n\n\n  Copyright (c) 2026 Dow Jones & Company, Inc.","kind":"highlight","is_publish_news":true,"is_publish_highlight":false,"is_publish_live":false,"is_publish_wemedia":true,"editions":null,"column":"","sentiment":"-1","news_tag":"","news_rank":0,"isVideo":false,"video":null,"symbols":[],"gpt_button":0,"need_auth":true,"need_login_tip":false,"code":"91000000","status":"200"}}}