0657 GMT - Grab's growth drivers are intact, and its adjusted Ebita will likely surge in 2025, driven by margin expansion, HSBC analysts write in a note. Grab is likely to strengthen its leadership position in ride-hailing and deliveries, as it invests into products to help expand its total addressable market with affordable products, they say. However, as the priority will be on new product initiatives, cross-selling and lending products, HSBC trims earlier margin estimates and reduces its adjusted Ebitda projection by 2%-5% for 2025-2026. HSBC lowers its target price to $5.45 from $5.50 but upgrades its stock rating to buy from hold as the stock offers 20% upside, and valuations have become attractive after the recent price correction. (kimberley.kao@wsj.com)
(END) Dow Jones Newswires
February 05, 2025 01:57 ET (06:57 GMT)
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