0211 GMT - ComfortDelGro likely faces headwinds and tailwinds, UOB Kay Hian analysts say in a research report. Management noted its U.K. bus contract renewals are ongoing, which would lead to a better margin profile for 2025, the analysts say. In Singapore, improving domestic rail ridership together with higher rail fares from December 2024 should help boost rail revenue, they add. However, its bus revenues are poised to decline this year owing to the loss of the Jurong West bus contract and softer margins from recently the renewed Seletar bus package. The brokerage lowers its 2025-2026 core PATMI estimates by 1%-3% to reflect higher cost assumptions. It trims the target price to S$1.76 from S$1.77, with an unchanged buy rating. Shares are unchanged at S$1.44.(ronnie.harui@wsj.com)
(END) Dow Jones Newswires
March 04, 2025 21:11 ET (02:11 GMT)
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