Grab Stock’s Big Quarter Has Some Analysts Seeing Further Gains
- Ride-hailing firm’s earnings came in strong last month
- Optimism over growth potential expected to boost Grab shares
Grab has seen revenue growth slow dramatically from triple-digit rates in previous years.
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Grab Holdings Ltd.’s ability to cut costs and edge out rivals in Southeast Asia’s ride-hailing arena helped push its share performance above global peers this quarter, with some analysts citing further gains ahead.
Brokers are rushing to lift the Singapore-based firm’s price target, with Evercore ISI International Ltd. among those citing increased profit as it benefits from scale. Operating profit is expected to reach $6.5 million in the current quarter, according to data compiled by Bloomberg, compared with a $38 million loss in the preceding three months.