- The taxi company average growth is minus, except for ASSA, due to the competition with online taxi
- Four of seven companies experienced net loss
- Buy: BIRD, Upside potential is by 39%
Competing with Online Taxi Squeezed Taxi Companies’ Performances
The average taxi company revenue declined minus 17,5%. The biggest decline is recorded by Citra Maharlika Nusantara Corpora tbk (CPGT) which is by 52,2%. While Adi Sarana Armada tbk (ASSA) is the only company that recorded growth of 12,4%.
Along with the decline, the majority of listed companies had experienced loss. The average yield of equity is minus 11,9% without CPGT. CPGT had experienced equity deficit and huge losses. With the amount of debts to asset, CPGT will be more difficult to survive.
Meanwhile, Eka Sari Lorena Transport tbk (LRNA), Express Transindo Utama tbk (TAXI) and WEHA Transportasi Indonesia tbk (WEHA) also recorded net loss.
Buy: BIRD
Blue Bird tbk (BIRD) which is also in the middle of this condition is still a trusted company. Although its revenue growth was sheer and net profit is negative, two from four analysts still recommended BUY. The average target price is till 4.725 IDR/ share. It means that BIRD’s investors still have potential to get profit by 39%.
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