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Grab Holdings Gains After Jefferies Calls It a Buy -Breaking

by Mike Robinson

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© Reuters

Sam Boughedda

Investing.com — Shares Grab Holdings Ltd (NASDAQ:) gained strength Thursday, after Jefferies issued a buy rating to the stock. Grab — a Southeast Asian technology company — offers transportation, food delivery and digital payments services through its mobile app.

Thomas Chong (an analyst) set the price target at $10.50 for the stock and told investors that the company ranks first in Southeast Asia by market shares across delivery, mobility, digital finance.

Grab has less than 10 years operational mobility, five years in food delivery and financial services. The company’s rapid growth is a result.

Chong continued his description of Grab as a multi-year story by saying that Grab also has a diverse revenue base. He sees tremendous opportunities for the region, based on the user base and increasing online penetration in various segments.

Grab shares increased 2.5% to $7.14

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