Grab Holdings price target lowered to $4.70 from $5 at Jefferies

Jefferies analyst Thomas Chong lowered the firm’s price target on Grab Holdings to $4.70 from $5 and keeps a Buy rating on the shares. When factoring in a deliveries margin in Q2 to be similar to Q1, a mobility margin at 8.5% in Q2, lower than Q1 due to reinvestment in customer segmentation strategies and lower regional corporate costs, the firm forecasts adjusted EBITDA to reach about $63M, the analyst tells investors in a Q2 preview.