- The shares of Grab Holdings Ltd (NASDAQ: GRAB) have received an $8.40 price target from Morgan Stanley. These are the details.
The shares of Grab Holdings Ltd (NASDAQ: GRAB) have received an $8.40 price target from Morgan Stanley. And Morgan Stanley analyst Mark Goodridge initiated coverage on Grab Holdings with an “Overweight” rating.
Goodridge noted that Grab — through its Super App Strategy — is well-placed to benefit from the structural growth of the digital consumer and tackle the large market opportunity where we think the total addressable market (by revenue) could grow from US$5.3 billion in 2021 to US$16 billion in 2025.
“Sustained profitability and cash flow from the Ride Sharing and Food Delivery segments to be a differentiating factor over other Super App players and help fund Grab’s expansion into Fintech and Digital Banking. Grab is trading on 2023e EV/MS-adjusted Net Sales multiple adjusted for growth of 11.3x, a 9% discount to Sea,” wrote Goodridge in a research report. “We view this as attractive particularly with the long-term opportunity around Grab’s Fintech business.”
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