HSBC downgraded Grab Holdings to Hold from Buy with a price target of $6.20, up from $6. The firm says it is “time for a breather” following the stock’s 30% rally off last month’s low. However, Grab’s growth levers remain intact and the company should continue to strengthen its leadership position, the analyst tells investors in a research note.
Shares of Grab Holdings dropped about 6% on Wednesday.
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