Shares of Grab Holdings (NASDAQ: GRAB), the super app in Southeast Asia, dipped in pre-market trading on Monday, as Barclays analyst Jiong Shao initiated coverage of the stock with a Hold rating and a price target of $3.
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Shao’s price target is the lowest on the Street and implies upside potential of 6.8% at current levels.
The analyst stated, “As a category leader in food delivery and ride-hailing in Southeast Asia, GRAB has a very strong competitive position. The question is whether these businesses can thrive longer term in the region.”
Is GRAB a Good Buy Now?
Analysts remain cautiously optimistic about the stock, with a Moderate Buy consensus rating based on five Buys and two Holds. The average price forecast for GRAB stock is $4.32 implying an upside potential of 53.7% at current levels.
