JPMorgan keeps an Overweight rating on Grab Holdings with a $3.80 price target into the company’s Q4 results. Channel checks indicate that on-demand, especially delivery, incentives have reduced, the analyst tells investors in a research note. The firm believes Grab is likely to maintain or improve delivery margins in 2024. The firm thinks the company could also evaluate a buyback considering its growing earnings and cash flows in 2024.
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