Grab Shares Surged 13% in Morning Trading
Tiger Newspress2022-06-21
Grab shares surged 13% in morning trading after Grab Holdings initiated with a Buy at Deutsche Bank.
Deutsche Bank analyst ReenaVerma Bhasin initiated coverage of Grab Holdings with a Buy rating and $3.20 price target. Grab is Southeast Asia's leading "superapp" platform, with a dominant position in mobility and deliveries, and a developing business in digital financial services, Bhasin tells investors in a research note. The stock offers "attractive upside potential" after dropping 65% year-to-date, says the analyst. Bhasin expects strong growth in mobility and says the deliveries business is also targeted to break even over next 12 months.
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