In their report dated Aug 24, the Citi analysts say that along with a “clean, solid 2QFY2023 beat”, and despite Grab’s management conservatively maintaining its FY2023 revenue guidance to the high-end of its 54% to 60% y-o-y improvement range, they are positive on the company’s substantial revision of its FY2023 group ebitda forecast to a loss of US$30 to US$40 million from a loss of US$195 million to US$235 million previously
Analysts across the board are positive on Grab Holdings after the NASDAQ-listed company beat expectations for its 2QFY2023 ended June 30 and raised its full-year ebitda guidance. Citi Research, Maybank Research, HSBC Global Research and CGS-CIMB Research have each maintained their “buy” and “add” calls on Grab.
Citi analysts Alicia Yap, Nelson Cheung and Vicky Wei have raised their target prices to US$5.20 ($7.06) from US$4.80 previously, while Maybank’s Kelvin Tan has lifted his target price to $4.20 from $4.00 previously. Piyush Choudhary and Rishabh Dhancholia of HSBC and Ong Khang Chuen and Kenneth Tan of CGS-CIMB have held firm on their respective target prices of US$4.25 and US$4.50.
