In a Wednesday report, analyst Shekhar Jaiswal says he views price competition as an “obvious start” to Go-Jek’s arrival to the local market, following the recent launch of the beta version of its app in Singapore in late Nov.
SINGAPORE (Dec 5): RHB Research is maintaining “neutral” on ComfortDelGro (CDG) with an unchanged target price of $2.35, which indicates 11% upside plus 5% FY19F yield.
This comes as the research house is anticipating ride-hailing entrant Go-Jek to initiate a price competition against its counterpart Grab – and awaits clarity on the resultant effect on CDG’s taxi business, which forms about 30% of the group’s earnings before interest and taxes (EBIT).
