JPMorgan analyst Ranjan Sharma lowered the firm’s price target on Grab Holdings (GRAB) to $5.30 from $5.60 and keeps an Overweight rating on the shares. The firm expects strong Q1 results with a “murky” outlook for the rest of the year. Grab’s business could prove relatively more resilient than Sea Limited (SE) while the company also appears to be gaining market share, the analyst tells investors in a research note.
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