0402 GMT - A potential deal for Singapore-based Grab to buy Delivery Hero's food delivery business in several Asian countries may lead to better economies of scale and higher margins for the food delivery industry, HSBC analysts write in a research note. Deal aside, HSBC analysts believe Grab should be able to strengthen its leadership position in the ride hailing and food delivery markets given its ability to synergize across its businesses and offer affordable, innovative products while their competitions have more limited budgets. They see a possible consolidation as smaller players quit due to their lack of scale. HSBC maintains a buy rating for the U.S.-listed stock with a target price of $4.40. Shares were last at $3.46. (email@example.com)
(END) Dow Jones Newswires
September 22, 2023 00:02 ET (04:02 GMT)
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