They are referring to Grab Holding and GoTo, which face closer scrutiny from a bigger pool of investors now that they are public companies.
DBS Group Research analysts Yong Woon Bin and Paul Yong have reiterated their “buy” call and $1.95 target price on ComfortDelGro, citing a possible reversal in its taxi business due to “less intense competition”.
“ComfortDelGro’s ride-hailing competitors may be subject to increased scrutiny, which could reduce aggressive competition and improve the economics of renting taxis. In turn, ComfortDelGro’s rental taxi fleet could reverse its declining trend,” write the analysts in their April 11 note.
