The recent price correction of Grab makes it a compelling Buy for me as I believe that it is undervalued and oversold for its dominant position as the leading ride hailing and food delivery app in South East Asia. In addition to that, Grab has a digital full bank licence in Singapore through its collaborative partnership with Singtel. Grab has been making great progress with its earnings performance as it delivered its 2nd consecutive positive Profit for Q3 24 and the highest quarterly Adjusted Free Cash flow to date of USD 76 million for the business. Grab even raised its full year 2024 Group Revenue and Group Adjusted EBITDA outlook with the strong momentum across all segments of its business heading towards end of the year.
Wall Street Analysts are bullish on Grab with a Buy rating, Average Target price of USD 5.61, an upside potential of 12%.
I believe Grab has lots of exponential growth ahead as South East Asia is one of the fastest growing regions in the world.
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