DiDi Global Has Scope to Improve Margins in 2024-2026 -- Market Talk

Dow Jones10-17

0519 GMT - DiDi Global likely has an incentive to improve margins between 2024 and 2026, Daiwa Capital Markets analysts write in a report. The brokerage suggests a Hong Kong listing would benefit the ride-hailing provider with more fund flows, potential inclusion in the Stock Connect and greater flexibility to unlock shareholder value. DiDi Global has scope to narrow the gap between its estimated 2024 EBITDA-to-gross transaction value of around 3% and Uber's 7% and Grab's 9% in 2023, the analysts note. Daiwa initiates its coverage of DiDi Global's ADRs with a buy rating and a target price of $6.50. The ADRs closed 8.3% higher at $4.821 on Wednesday.(ronnie.harui@wsj.com)

(END) Dow Jones Newswires

October 17, 2024 01:19 ET (05:19 GMT)

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