Grab Holdings weakness after earnings a buying opportunity, says Benchmark

Benchmark notes that Grab Holdings saw pressure following its Q2 results, but believes that the market has “overacted” to a headline revenue miss largely on forex headwinds and a temporary dip on mobility take rate and margin as the company continues to test trial its new products to drive affordability. The firm, which also contends that the market “may have overblown the potential threat of Tiktok’s entry in local services,” would recommend investors leverage the weakness to accumulate shares and keeps a Buy rating and $6 price target on Grab.