Citi ups Grab Holdings target, opens ‘positive catalyst watch’

Citi raised the firm’s price target on Grab Holdings to $5.20 from $5.10 and keeps a Buy rating on the shares. The analyst also opened a “30-day positive catalyst watch” on the shares. The firm expects another solid report in Q4, in-line with management’s expectation of sustaining quarter-over-quarter growth with potential upside to sales and EBITDA margins. Citi cites muted expectations and the recent share price weakness for the catalyst watch.