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DBS starts Grab Holdings at 'buy' with TP of US$9

Felicia Tan
Felicia Tan1/5/2022 4:41 PM GMT+08  • 3 min read
DBS starts Grab Holdings at 'buy' with TP of US$9
DBS Group Research also given Grab a bear target price of US$6, in the event of rising competition and macro weakness.
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DBS Group Research has initiated “buy” on Grab Holdings with a 12-month target price of US$9 ($12.19), representing a 25% upside to its last-traded price of US$7.22 on Jan 3.

The target price also translates to 6.5 times of FY2023’s adjusted revenue.

“We assign a 30% premium to Grab for its multi-sector leadership, cross-selling synergies and higher growth potential compared to DoorDash, Uber and PayPal in their respective sectors,” writes analyst Sachin Mittal on Jan 4.

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