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Grab Holdings Stock Dips Nearly 4% Following Analyst Downgrade
Grab Holdings Stock Dips Nearly 4% Following Analyst Downgrade
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BTCCSquare news:
Grab Holdings (GRAB) saw its shares decline by nearly 4% during Wednesday's trading session, underperforming the marginal 0.1% dip in the S&P 500. The sell-off followed a recommendation downgrade from global bank analyst Piyush Choudhary, who shifted his rating from buy to hold.
Choudhary expressed caution about the stock's recent rally, noting that valuations have reached fair-value territory. Despite the downgrade, he raised his price target slightly to $6.20 per share, up from $6, while also increasing his estimates for Grab's gross merchandise value and EBITDA.
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