Cabcharge Australia
Stock Code
Stock Exchange
Cabcharge Australia Limited (CAB) is an Australian based company engaged in providing taxi charge account service businesses and other related services in Australia. It also provides electronic payment systems for the transport sector with main operations in Asia, Europe and in Australia. CAB was listed on the Australian Stock Exchange on the 14th of December 1999. Its average annual revenue reaches approximately AUD$151 million. Its headquarters is located in Sydney, Australia and to date; around 375 people are employed in the company.
A lawsuit was filed by the Australian Competition and Consumer Commission (ACCC) yesterday against Cabcharge Australia (CAB), a company that is operated by the Sydney Taxi operator Reg Kermode. In the lawsuit ACCC has accused Cabcharge for misusing its market power in an attempt to eliminate its competitors from the market.
MRE has retained it’s outperform recommendation for CAB with a $11.05 price target, with the suggested upside of over 20%.
Cabcharge Australia (CAB) – Taxi!!
Cabcharge Australia Limited (CAB) has reported on the performance of its non-core investments, a 49% stake in Westbus, which accounts for around 11% of NPAT and a 33% stake in Cityfleet (UK), which accounts for around 3-4% of NPAT. Today, Macquarie Research Equities (MRE) reviews these results and the expected performance of CAB in the near term.
Macarthur Coal (MCC) was the overall best performing stock taking in a 19.54 percent increase. Among the best performing companies for the past week (week 41 of 2007) on the Australian sharemarket were a mixture of chemical manufacturing, communication services, aviation, coal mining, metal and transportation: Incitec Pivot (IPL), Telstra Corporation (TLS), Qantas (QAN), Macarthur Coal (MCC), Mt. Gibson Iron (MGX), Cabcharge Australia (CAB). These best performing stocks for week 41 managed more than 5.48 percent gain by the end of the trading week.
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