Jefferies analyst Thomas Chong reiterated a Buy rating and $6.70 price target on Grab Holdings (GRAB), saying the company’s announcement of an acquisition of Taiwan’s foodpanda should be accretive to adjusted EBITDTA in 2028. the firm believes the announcement was unexpected by the market, adding that the deal will enable Grab to replicate its Southeast Asian delivery success in Taiwan. The cash consideration of $600M reflects a 30% discount to the price proposed by Uber (UBER) in 2024, the analyst tells investors in a research note.
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