HSBC downgrades Grab Holdings on valuation after rally

HSBC downgraded Grab Holdings (GRAB) to Hold from Buy with a price target of $6.20, up from $6. The firm says it is “time for a breather” following the stock’s 30% rally off last month’s low. However, Grab’s growth levers remain intact and the company should continue to strengthen its leadership position, the analyst tells investors in a research note. Elevate Your Investing Strategy: Take advantage of TipRanks Premium at 50% off! Unlock powerful investing tools, advanced data, and expert analyst insigh ...