Grab's Strong Quarter and Market Position Suggests It Is Core Emerging Market Investment: Analyst
Portfolio Pulse from Anusuya Lahiri
Benchmark analyst Fawne Jiang reiterated a Buy rating on Grab Holdings (NASDAQ:GRAB) with a price target of $6, following a strong quarter with group-level profitability for the first time. Jiang highlights GRAB's competitive edge in affordability and its position as a super-app and multi-region operator. Despite macro uncertainty, Jiang is confident in GRAB's market share gain and sees it as a market consolidator in Southeast Asia, recommending it as a core emerging market investment. The FY23 revenue estimate was raised to $2.34 billion, with adjusted EBITDA at $(20) million.
November 10, 2023 | 7:57 pm
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Benchmark analyst Fawne Jiang reiterates a Buy rating on Grab Holdings with a $6 price target, citing strong quarterly performance and group-level profitability. The company is seen as a strong player in the emerging markets with a competitive edge and potential for market share gains.
The positive outlook from the analyst, including the reiteration of a Buy rating and an increased price target, suggests a bullish sentiment for GRAB's stock in the short term. The report of a strong quarter and the company achieving group-level profitability for the first time are likely to be viewed favorably by investors, potentially leading to an increase in stock price.
CONFIDENCE 85
IMPORTANCE 90
RELEVANCE 100