ComfortDelGro Corporation Limited (SGX: C52) is ending the week in the spotlight for two very different reasons: a fresh “future mobility” headline in Singapore (driverless shuttles in Punggol), and steady earnings momentum powered largely by overseas public transport. At the same time, sell-side analysts’ targets still cluster well above the current share price—though they don’t all agree on how much of that upside is “easy” versus “execution-dependent”.
Below is a detailed, publication-ready breakdown of the latest news, forecasts and analyses shaping ComfortDelGro stock as of 13 December 2025.
ComfortDelGro share price snapshot (Dec 13, 2025)
ComfortDelGro shares were around S$1.43 based on the latest SGX-referenced quote data available on Dec 13. 1
Performance context:
- MarketScreener’s quote panel showed S$1.430 with a -3.38% change since the start of the year and a -0.69% five-day change (as displayed on its page at that time). 2
- Investing.com’s consensus page showed a 52-week range of S$1.340 to S$1.640, with the current area around S$1.43. 3
That sets the stage: the stock is not screaming “momentum darling” right now—but it is sitting near the lower end of many analysts’ valuation frameworks, which is why “upside potential” keeps appearing in research summaries.
The big headline this week: ComfortDelGro gets the green light for driverless shuttles in Punggol
What happened
Singapore’s Land Transport Authority (LTA) has approved ComfortDelGro and its autonomous-vehicle partner Pony.ai to begin testing self-driving shuttles on public roads in Punggol, a key step toward passenger-facing service. 4
Key details reported across major outlets:
- ComfortDelGro is expected to operate five autonomous shuttles for the Punggol trial phase, with road trials discussed as coming in Q1 2026 in business reporting. 4
- The service is ultimately intended to be bookable via ComfortDelGro’s Zig app, with passenger rides targeted for early 2026. 5
- CNA reported that Punggol is slated to be the first residential town for these autonomous shuttle services, with LTA having said earlier that the first services would open to the public by the second quarter of 2026. 6
Why it matters for the stock
This is not an overnight earnings story. It’s an “option value” story: a regulated, operationally complex new mobility product that could (if scaled) extend ComfortDelGro beyond conventional taxi/PHV economics.
ComfortDelGro’s own earlier press release (Sept 2025) positioned Zig Driverless as a fixed-route “last mile” complement to existing public transport in Punggol, explicitly tying the programme to its partnership with Pony.ai and mobile booking through Zig. 7
Investors typically watch three things next:
- Safety/regulatory milestones (because they control timetable). 5
- Operational learning curve (mapping, localisation, uptime in real conditions). 4
- Commercial model clarity (pricing, subsidy/support, fleet scale, staffing model).
In short: exciting, but the P&L impact is more “future-shaped” than “next quarter”.
Q3 2025 business update: profit growth continues, led by overseas public transport
ComfortDelGro’s 3QFY2025 Business Update (released in November) gave investors a clear message: earnings improved year-on-year, and the overseas public transport story is doing a lot of the heavy lifting.
Headline numbers (3QFY2025)
For 3Q2025, the company reported:
- Revenue: S$1.3 billion, up 12.9% year-on-year
- PATMI: S$70.4 million, up 22.4% year-on-year
- PATMI margin: 5.3% (vs 4.9% a year earlier) 8
For the nine months to Sep 2025 (YTD):
- Revenue: S$3.8 billion, up 13.9%
- Profit after tax & minority interests (PATMI): S$176.4 million, up 15.4% 8
The financial review slide also highlighted that YTD operating profit rose, with drivers including improved margins in UK London public transport contract renewals, plus contributions from new Manchester public transport contracts beginning in Jan 2025, and a disposal gain tied to depot sales in Victoria (Australia). 8
The less-cute but very real point: interest expense and acquisition accounting are rising
That same financial review page showed net interest expense running higher year-on-year and explicitly linked it to borrowings used to finance acquisitions and growth capex. 8
This matters because the bull case (growth + contracts + acquisitions) and the bear case (capital intensity + leverage + integration risk) are literally two sides of the same spreadsheet.
Operational catalysts investors are watching into 2026
The Q3 business update also surfaced several operational developments that can move sentiment—especially around contract wins, fare adjustments, and platform economics.
Public transport: Europe and Australia contract momentum
Notable updates included:
- The Stockholm rail JV commenced full operations on 2 November 2025. 8
- ComfortDelGro was prequalified to bid for future Copenhagen Metro operations (as part of a consortium). 8
- Singapore’s Public Transport Council fare review 2025 concluded, with adjustments taking effect 27 December 2025, including adult card fare increases of 9–10 cents per ride (as stated in the update). 8
Taxi & private hire: CityCab becomes 100% owned
ComfortDelGro moved to full ownership of CityCab in Singapore—positioning it as part of a broader point-to-point strategy.
From the company’s SGX announcement:
- ComfortDelGro acquired the remaining stake for a total purchase consideration of S$116.3 million, following a valuation process referenced in the filing. 9
The Q3 update explicitly framed this as strengthening the group’s core point-to-point business and enabling better integration of global point-to-point operations. 8
Zig, platform features, and unit economics
ComfortDelGro highlighted practical platform tweaks aimed at reducing friction and improving reliability—like new fees and features that may (over time) influence driver and rider behaviour:
- It stated that the introduction of cancellation and waiting fees (July 2025) reduced cancellations meaningfully post-launch. 8
- The update also referenced expanding features and partnerships within the Zig ecosystem. 8
EV charging scale-up
ComfortDelGro also disclosed it had extended its EV charging network to over 2,100 active chargers across Singapore and Malaysia. 8
Leadership changes: a bigger deal than it looks (Nov 2025)
ComfortDelGro announced a set of leadership moves that investors often treat as “quietly material” because they signal which businesses the board is prioritising.
From the company’s Nov 20, 2025 press release:
- Group Deputy CEO Derek Koh is slated to retire on 31 March 2026, stepping down as Group CFO effective 1 January 2026 and moving into an advisory role later. 10
- Christopher David White (then Group Deputy CFO) will become Group CFO from 1 January 2026. 10
- Liam Griffin, CEO of London subsidiary Addison Lee, will assume the newly created role of Group Chief Point-to-Point Mobility Officer to drive global point-to-point mobility growth and integration. 10
This explicitly elevates point-to-point mobility as a strategic pillar—not just a legacy taxi business.
Analyst forecasts and price targets for ComfortDelGro stock
Here’s where “forecast” gets messy—in a good way. Different research shops (and different model styles) give different numbers, but the shared theme is that the stock is widely seen as undervalued relative to target prices.
Consensus targets (as displayed on major finance portals)
- Beansprout showed a consensus share price target of S$1.693 as of 13 Dec 2025, implying ~18.4% upside versus S$1.43. 1
- Investing.com showed 9 analysts with an average target of S$1.74, with a high of S$1.84 and a low of S$1.62, and a displayed consensus rating of “Strong Buy”. 3
- Stockopedia also referenced a consensus target of S$1.74 versus a S$1.43 prior close. 11
Named research calls in circulation
- DBS showed a target price of SGD 1.8 with a BUY recommendation (publication date shown as 2025‑11‑13). 12
- POEMS (Phillip Securities) displayed an ACCUMULATE stance with a DCF target price of S$1.62 and highlighted drivers such as London bus repricing and new contracts, while flagging offsets like declining taxi/bus profitability in Singapore (per its summary snippet). 13
- The Edge (citing Maybank’s analyst) reported a Buy call and S$1.70 target price around August 2025, with emphasis on margin improvement in London public bus contract renewals. 14
- A Phillip Securities summary carried by SGinvestors argued for a stronger 2H25 driven by contract repricing and CMAC seasonality, while also flagging higher capex and a shift toward net debt. 15
- An RHB Securities summary highlighted CityCab consolidation and improving UK margins but warned that structural challenges in Singapore’s taxi market could limit upside. 16
“Quant” style valuation commentary
Simply Wall St’s dashboard-style analysis claimed:
- The stock was trading below its estimate of fair value (its page cited a 32.8% discount),
- Earnings forecast growth of 8.83% per year,
- And a risk note that the dividend may not be well covered by free cash flows (as presented on its page). 17
These are model-driven views rather than traditional broker research, but they influence retail sentiment and SEO visibility—especially on Discover.
Dividend watch: what income-focused investors see
MarketScreener’s dividend section listed:
- An interim payment of 0.0391 SGD with an ex-dividend date shown in Aug 2025,
- And a final payment of 0.0425 SGD shown around May 2025. 2
Meanwhile, at least one research summary highlighted an interim dividend increase year-on-year (as described in the Phillip/Singapore investors research recap). 15
Dividend sustainability remains part of the debate, especially when some analyses flag free-cash-flow coverage as a risk. 17
The bull case vs bear case for ComfortDelGro stock right now
Why some investors are constructive
- Overseas public transport margins: London contract renewals at improved margins are repeatedly cited as a driver. 8
- New contract contributions: Stockholm rail operations (from Nov 2025) and other contract ramp-ups are tangible, not hypothetical. 8
- Singapore fare adjustments: fare increases effective late Dec 2025 can support revenue per ride (though the net impact depends on cost and ridership dynamics). 8
- Optionality from AV + Zig: regulatory approvals and defined routes make the AV narrative more concrete than generic “we like AI” press releases. 6
- Street targets above spot: multiple platforms cluster targets around S$1.69–S$1.74 or higher. 1
What skeptics focus on
- Leverage and financing costs: disclosures point to higher interest expense tied to acquisitions and capex. 8
- Capital intensity: buses, depots, rail contracts and fleet upgrades can be cash-hungry—great when pricing is right, painful when it isn’t. 15
- Singapore point-to-point competition: multiple research notes caution that local taxi/PHV economics face structural pressure, even if the group is modernising via Zig. 13
- Dividend coverage debate: at least one model-driven view flags cash flow coverage as a risk. 17
Key dates and catalysts to watch next
A short “calendar” view helps explain why investors may see January–February 2026 as an active period for news flow:
- 27 Dec 2025: Singapore public transport fare adjustments take effect (per ComfortDelGro’s Q3 update). 8
- 1 Jan 2026: new Group CFO effective date (company announcement). 10
- Q1 2026: expected timing for Punggol AV road trials in reporting. 4
- Early / Q2 2026: expected window for public launch of Punggol autonomous shuttle services cited by ComfortDelGro and regulators/reporting. 7
- 25 Feb 2026 (projected): MarketScreener’s calendar displayed a projected Q4 2025 earnings release date. 2
Bottom line
As of Dec 13, 2025, ComfortDelGro stock sits at the intersection of “steady operator” and “platform transition”:
- The near-term fundamentals are being supported by overseas public transport performance and contract repricing, reflected in stronger year-on-year quarterly profit. 8
- The strategic narrative is sharpening: leadership changes explicitly elevate point-to-point mobility, while autonomous shuttle approvals push the Zig Driverless story closer to reality. 10
- The market debate is whether margin gains and new contracts can outpace the drag from higher interest costs, capex demands, and the competitive grind in Singapore point-to-point mobility. 8
Finally, analysts’ published targets still generally imply upside from current levels—but the dispersion (roughly S$1.62 to S$1.84 across one major consensus page) is a reminder that execution matters. 3
