Grab Holdings price target raised to $5.70 from $5 at JPMorgan

JPMorgan raised the firm’s price target on Grab Holdings (GRAB) to $5.70 from $5 and keeps an Overweight rating on the shares. The firm says the company’s Q3 results crystallized its view that Grab can leverage network effects to build on its market leadership while optimizing monetization and spend. It expects the company’s “strong earnings growth to surprise the Street positively,” driven by sales growth along with margin expansion.