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Grab selloff on Indonesia proposal ‘an enhanced buying opportunity,’ says Citi

Grab selloff on Indonesia proposal ‘an enhanced buying opportunity,’ says Citi

Citi analyst Alicia Yap notes that Grab shares are trading down about 10% following The Business Times’ report on Indonesia’s proposed rule for ride-hailing companies, including Grab and GoTo, to pay Eid al-Fitr bonuses to their drivers ahead of the holidays. However, the firm notes that this is not the first year the bonus payment is implemented and it believes Grab’s 2025 EBITDA guidance of $440M-$470M is likely to have reflected the anticipated holiday bonus to be paid this year. The firm, which views the share price selloff as “an enhanced buying opportunity,” reiterates its Buy rating and $6.25 price target on Grab shares.

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