BofA analyst Sachin Salgaonkar upgraded Grab Holdings to Buy from Neutral with a price target of $4.20, up from $3.60. The analyst sees risk-reward turning more favorable, and finds Grab well-positioned to balance revenue growth with profitability in both its core businesses, Salgaonkar tells investors in a research note. Given Grab’s stronger balance sheet, the analyst finds it well placed to be a consolidator.
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Published first on TheFly