0824 GMT - Grab is likely to report 3Q earnings growth, supported by strong broad-based revenue performance from its deliveries, mobility and financial services segments, Citi Research analysts write in a note. There is a potential upside to consensus estimates for financial services given continued strength of loan book and small contribution from Stash, they say. Looking ahead to 4Q, Citi expects resilient on-demand and tourism activity driven by continuing cross-promotions, although foreign exchange headwinds are likely to persist. Citi retains its buy rating on the stock but trims its target price to $5.50 from $6.50 based on a lower target multiple reflecting the broader sector de-rating. Shares last closed at $2.98.
At the request of the copyright holder, you need to log in to view this content
Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.
Comments