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2021-12-27
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Grab stock climbed more than 3% in premarket trading<blockquote>Grab 股价在盘前交易中上涨超过 3%</blockquote>
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It became the largest-ever company to close a SPAC merger and go public.</p><p><blockquote>Grab在与空白支票公司Altimeter Growth Corp.达成协议后首次亮相纳斯达克，该公司的估值接近400亿美元。它成为有史以来最大的完成特殊目的收购公司合并并上市的公司。</blockquote></p><p> But shares fell more than 20% from $13.06 to $8.75 a piece in the first day of trading. Since then, the stock has fallen another 16%.</p><p><blockquote>但股价在首日交易中下跌超过 20%，从每股 13.06 美元跌至 8.75 美元。此后，该股又下跌了16%。</blockquote></p><p> Still, JPMorgan likes the stock and said the company has a “superior regional superapp” and multiple opportunities for “multi-year growth.” The investment bank said that Grab’s regional leadership in Southeast Asia is driven by a highly scalable and localized platform that is underpinned by its proprietary technology.</p><p><blockquote>尽管如此，摩根大通还是看好这只股票，并表示该公司拥有 “卓越的地区超级应用”和 “多年增长 ”的多个机会。该投资银行表示，Grab 在东南亚的区域领导地位得益于一个高度可扩展和本地化的平台，该平台以其专有技术为基础。</blockquote></p><p> “The platform enables Grab to offer its services at a structurally lower cost base vs peers, with higher retention rates,” JPMorgan analysts wrote in their initiation coverage note earlier this month. “Grab’s platform gives it further advantages over its peers with limited geographical presence and/or fewer services, as Grab can allocate cash flows across countries and services to deliver on growth.”</p><p><blockquote>“摩根大通分析师在本月早些时候的启动报告中写道：”与同行相比，该平台使 Grab 能够以结构上更低的成本基础提供服务，并提高保留率。“Grab 的平台使其比地理位置有限和/或服务较少的同行更具优势，因为 Grab 可以在不同国家和服务之间分配现金流，以实现增长。”</blockquote></p><p> Here are JPMorgan, Citi and Evercore’s ratings and price targets for Grab, and why they like the stock:</p><p><blockquote>以下是摩根大通、花旗和 Evercore 对 Grab 的评级和目标价，以及他们喜欢该股的原因：</blockquote></p><p> <b>JPMorgan</b></p><p><blockquote><b>摩根大通</b></blockquote></p><p> JPMorgan initiated coverage on Grab with an overweight rating and a price target of $12.50 over the next 12 months — that represents over 70% upside from the Dec. 23 closing price of $7.35.</p><p><blockquote>摩根大通开始对 Grab 进行投资，给予跑赢大盘评级，未来 12 个月的目标价为 12.50 美元，较 12 月 23 日收盘价 7.35 美元上涨超过 70%。</blockquote></p><p> Based on the investment bank’s rating system, an overweight rating implies JPMorgan expects Grab’s stock to outperform over the next six to 12 months.</p><p><blockquote>根据该投资银行的评级系统，跑赢大盘的评级意味着摩根大通预计 Grab 的股票将在未来 6 到 12 个月内跑赢大盘。</blockquote></p><p> The analysts said Grab’s superior regional app, comprising multiple services including ride-hailing and food delivery, is “best geared to rising online consumption” in Southeast Asia. They said they identified gross merchandize value and revenue growth as key catalysts for the company and they see “multiple opportunities for multi-year growth.”</p><p><blockquote>分析师们说，Grab 卓越的区域应用程序包括打车和送餐等多种服务，“最适合东南亚不断增长的在线消费”。他们表示，他们认为商品总价值和收入增长是公司的关键催化剂，他们看到了 “多年增长的多种机会”。</blockquote></p><p> GMV is a metric often used in e-commerce to measure the total dollar value of goods sold over a certain period of time.</p><p><blockquote>GMV是电子商务中常用的衡量标准，用于衡量一定时间段内销售的商品的总美元价值。</blockquote></p><p> The investment bank said Grab is a leader in ride-hailing across the region and that could lead to a highly profitable mobility business, where lifting Covid restrictions and broader economic reopening could drive growth.</p><p><blockquote>该投资银行表示，Grab 是该地区网约车行业的领导者，这可能会带来高利润的移动业务，其中取消新冠疫情限制和更广泛的经济重新开放可能会推动增长。</blockquote></p><p> While the company’s delivery business is at an earlier stage of development, JPMorgan said there’s growth potential due to the relatively fragmented, but large total addressable market for food delivery and groceries. But the bank said that Grab is likely to see losses in the near-to-mid term due to investments and competition for market share.</p><p><blockquote>摩根大通表示，虽然该公司的外卖业务处于早期发展阶段，但由于食品外卖和杂货市场相对分散，但总体规模较大，因此具有增长潜力。但该银行表示，由于投资和市场份额竞争，Grab 在中短期内可能会出现亏损。</blockquote></p><p> The analysts warned, however, that Grab’s stock price could be volatile over the next six months as the free float expands due to staggered expiration of lock-ups that will release additional shares. Potential inclusion in MSCI indexes could also contribute to the volatility, JPMorgan said.</p><p><blockquote>不过，分析师警告说，随着自由流通量的扩大，Grab 的股价在未来六个月内可能会出现波动，因为锁定期错开到期将释放更多股票。摩根大通表示，潜在纳入摩根士丹利资本国际指数也可能导致波动性。</blockquote></p><p> <b>Citi</b></p><p><blockquote><b>花旗</b></blockquote></p><p> Citi initiated coverage of Grab with a buy rating and a price target of $12 a share, but also flagged the stock as high risk.</p><p><blockquote>花旗对 Grab 给予买入评级，目标价为每股 12 美元，但也将该股标记为高风险。</blockquote></p><p> Compared with regional peers, Citi analysts said Grab benefits from its ability to capture larger volumes of consumer data given higher frequency of delivery and mobility demand compared to services like e-commerce. That gives the company an easier way to cross-sell its financial services products, they added.</p><p><blockquote>花旗分析师表示，与地区同行相比，Grab 受益于其捕获大量消费者数据的能力，因为与电子商务等服务相比，交付频率和移动性需求更高。他们补充说，这为该公司提供了一种更简单的方式来交叉销售其金融服务产品。</blockquote></p><p> The analysts pointed out that Grab has a “broader geographic footprint with more equal strength in the ... Southeast Asia countries in which it operates,” compared with Indonesian rival GoTo Group.</p><p><blockquote>分析师指出，与印尼竞争对手 GoTo Group 相比，Grab 的 “地理覆盖范围更广，在其开展业务的东南亚国家实力更为均等”。</blockquote></p><p> Citi said, however, spending per transaction and per user is lower for Grab than other regional players like Sea, which operates e-commerce platform Shopee. That implies Grab would face more headwinds if Covid cases in the region surge again, forcing countries to impose lockdowns and other mobility restrictions.</p><p><blockquote>然而，花旗表示，Grab 的每笔交易和每用户支出低于运营电子商务平台 Shopee 的 Sea 等其他地区参与者。这意味着，如果该地区的新冠病例再次激增，Grab 将面临更多阻力，迫使各国实施封锁和其他流动限制。</blockquote></p><p> “Grab also lacks a high-margin gaming business and global exposure given its Southeast Asia focus,” Citi analysts said.</p><p><blockquote>“花旗分析师说：”鉴于 Grab 专注于东南亚，它还缺乏高利润的游戏业务和全球曝光率。</blockquote></p><p> <b>Evercore</b></p><p><blockquote><b>永恒核心</b></blockquote></p><p> Evercore initiated coverage with an outperform rating and a price target of $10.</p><p><blockquote>Evercore 以跑赢大盘的评级和 10 美元的目标价开始覆盖。</blockquote></p><p> The firm said Grab will likely face more local competition in each market for its delivery business compared to ridesharing, where the only other international incumbent is GoTo Group’s Gojek — particularly, in Indonesia.</p><p><blockquote>该公司表示，与拼车相比，Grab 的外卖业务在每个市场都可能面临更多的本地竞争，而拼车领域唯一的国际竞争对手是 GoTo 集团的 Gojek，尤其是在印度尼西亚。</blockquote></p><p> “Within its Delivery segment, Grab faces a bit more competition across its core geographies,” Evercore analysts said in a recent note. They flagged the likes of Foodpanda, Gojek and Deliveroo in Singapore, LineMan in Thailand as well as Now and Baemin in Vietnam as competitors.</p><p><blockquote>“Evercore 分析师在最近的一份报告中说：”在外卖领域，Grab 在其核心地区面临着更多的竞争。他们将新加坡的Foodpanda、Gojek和户户送、泰国的LineMan以及Now和越南的Baemin等公司列为竞争对手。</blockquote></p><p></p><p> “Lastly, Grab competes with last-mile logistics providers such as Gojek and Lalamove, and more local last-mile players such as AhaMove (Vietnam),” the analysts said.</p><p><blockquote>“最后，Grab 与 Gojek 和货拉拉等最后一公里物流提供商以及 AhaMove（越南）等更多本地最后一公里供应商竞争，”分析师说。</blockquote></p><p> In the financial services business, Grab faces competition from traditional players including credit card companies, banks as well as cash, which is still the predominant mode of payment in Southeast Asia.</p><p><blockquote>在金融服务业务中，Grab面临着来自传统参与者的竞争，包括信用卡公司、银行以及现金，现金仍然是东南亚的主要支付方式。</blockquote></p><p> Still, the Evercore analysts said that most of Grab’s core business segments including delivery, mobility and financial services remain underpenetrated, which grants the Singapore-headquartered company “a probable long runway for growth.”</p><p><blockquote>尽管如此，Evercore 分析师表示，Grab 的大部分核心业务部门，包括送货、移动和金融服务，仍然渗透率不足，这使得这家总部位于新加坡的公司 “可能有很长的增长跑道”。</blockquote></p><p></p>","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; 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overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 12.5px; color: #7E829C; margin: 0;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nGrab stock climbed more than 3% in premarket trading<blockquote>Grab 股价在盘前交易中上涨超过 3%</blockquote>\n</h2>\n<h4 class=\"meta\">\n<a class=\"head\" href=\"https://laohu8.com/wemedia/1079075236\">\n\n<div class=\"h-thumb\" style=\"background-image:url(https://static.tigerbbs.com/8274c5b9d4c2852bfb1c4d6ce16c68ba);background-size:cover;\"></div>\n\n<div class=\"h-content\">\n<p class=\"h-name\">Tiger Newspress </p>\n<p class=\"h-time smaller\">2021-12-27 20:40</p>\n</div>\n</a>\n</h4>\n</header>\n<article>\n<p>Grab stock climbed more than 3% in premarket trading as Wall Street saw massive upside for Asian tech giant Grab, after disappointing debut.</p><p><blockquote>Grab 股价在盘前交易中上涨超过 3%，华尔街看到亚洲科技巨头 Grab 在令人失望的首次亮相后大幅上涨。</blockquote></p><p> <img src=\"https://static.tigerbbs.com/722d12abbd9fc66fd8ccd5576d98e63c\" tg-width=\"841\" tg-height=\"619\" width=\"100%\" height=\"auto\"></p><p><blockquote></blockquote></p><p> Grab debuted on the Nasdaq following a deal with blank-check company Altimeter Growth Corp., which valued the company at nearly $40 billion. It became the largest-ever company to close a SPAC merger and go public.</p><p><blockquote>Grab在与空白支票公司Altimeter Growth Corp.达成协议后首次亮相纳斯达克，该公司的估值接近400亿美元。它成为有史以来最大的完成特殊目的收购公司合并并上市的公司。</blockquote></p><p> But shares fell more than 20% from $13.06 to $8.75 a piece in the first day of trading. Since then, the stock has fallen another 16%.</p><p><blockquote>但股价在首日交易中下跌超过 20%，从每股 13.06 美元跌至 8.75 美元。此后，该股又下跌了16%。</blockquote></p><p> Still, JPMorgan likes the stock and said the company has a “superior regional superapp” and multiple opportunities for “multi-year growth.” The investment bank said that Grab’s regional leadership in Southeast Asia is driven by a highly scalable and localized platform that is underpinned by its proprietary technology.</p><p><blockquote>尽管如此，摩根大通还是看好这只股票，并表示该公司拥有 “卓越的地区超级应用”和 “多年增长 ”的多个机会。该投资银行表示，Grab 在东南亚的区域领导地位得益于一个高度可扩展和本地化的平台，该平台以其专有技术为基础。</blockquote></p><p> “The platform enables Grab to offer its services at a structurally lower cost base vs peers, with higher retention rates,” JPMorgan analysts wrote in their initiation coverage note earlier this month. “Grab’s platform gives it further advantages over its peers with limited geographical presence and/or fewer services, as Grab can allocate cash flows across countries and services to deliver on growth.”</p><p><blockquote>“摩根大通分析师在本月早些时候的启动报告中写道：”与同行相比，该平台使 Grab 能够以结构上更低的成本基础提供服务，并提高保留率。“Grab 的平台使其比地理位置有限和/或服务较少的同行更具优势，因为 Grab 可以在不同国家和服务之间分配现金流，以实现增长。”</blockquote></p><p> Here are JPMorgan, Citi and Evercore’s ratings and price targets for Grab, and why they like the stock:</p><p><blockquote>以下是摩根大通、花旗和 Evercore 对 Grab 的评级和目标价，以及他们喜欢该股的原因：</blockquote></p><p> <b>JPMorgan</b></p><p><blockquote><b>摩根大通</b></blockquote></p><p> JPMorgan initiated coverage on Grab with an overweight rating and a price target of $12.50 over the next 12 months — that represents over 70% upside from the Dec. 23 closing price of $7.35.</p><p><blockquote>摩根大通开始对 Grab 进行投资，给予跑赢大盘评级，未来 12 个月的目标价为 12.50 美元，较 12 月 23 日收盘价 7.35 美元上涨超过 70%。</blockquote></p><p> Based on the investment bank’s rating system, an overweight rating implies JPMorgan expects Grab’s stock to outperform over the next six to 12 months.</p><p><blockquote>根据该投资银行的评级系统，跑赢大盘的评级意味着摩根大通预计 Grab 的股票将在未来 6 到 12 个月内跑赢大盘。</blockquote></p><p> The analysts said Grab’s superior regional app, comprising multiple services including ride-hailing and food delivery, is “best geared to rising online consumption” in Southeast Asia. They said they identified gross merchandize value and revenue growth as key catalysts for the company and they see “multiple opportunities for multi-year growth.”</p><p><blockquote>分析师们说，Grab 卓越的区域应用程序包括打车和送餐等多种服务，“最适合东南亚不断增长的在线消费”。他们表示，他们认为商品总价值和收入增长是公司的关键催化剂，他们看到了 “多年增长的多种机会”。</blockquote></p><p> GMV is a metric often used in e-commerce to measure the total dollar value of goods sold over a certain period of time.</p><p><blockquote>GMV是电子商务中常用的衡量标准，用于衡量一定时间段内销售的商品的总美元价值。</blockquote></p><p> The investment bank said Grab is a leader in ride-hailing across the region and that could lead to a highly profitable mobility business, where lifting Covid restrictions and broader economic reopening could drive growth.</p><p><blockquote>该投资银行表示，Grab 是该地区网约车行业的领导者，这可能会带来高利润的移动业务，其中取消新冠疫情限制和更广泛的经济重新开放可能会推动增长。</blockquote></p><p> While the company’s delivery business is at an earlier stage of development, JPMorgan said there’s growth potential due to the relatively fragmented, but large total addressable market for food delivery and groceries. But the bank said that Grab is likely to see losses in the near-to-mid term due to investments and competition for market share.</p><p><blockquote>摩根大通表示，虽然该公司的外卖业务处于早期发展阶段，但由于食品外卖和杂货市场相对分散，但总体规模较大，因此具有增长潜力。但该银行表示，由于投资和市场份额竞争，Grab 在中短期内可能会出现亏损。</blockquote></p><p> The analysts warned, however, that Grab’s stock price could be volatile over the next six months as the free float expands due to staggered expiration of lock-ups that will release additional shares. Potential inclusion in MSCI indexes could also contribute to the volatility, JPMorgan said.</p><p><blockquote>不过，分析师警告说，随着自由流通量的扩大，Grab 的股价在未来六个月内可能会出现波动，因为锁定期错开到期将释放更多股票。摩根大通表示，潜在纳入摩根士丹利资本国际指数也可能导致波动性。</blockquote></p><p> <b>Citi</b></p><p><blockquote><b>花旗</b></blockquote></p><p> Citi initiated coverage of Grab with a buy rating and a price target of $12 a share, but also flagged the stock as high risk.</p><p><blockquote>花旗对 Grab 给予买入评级，目标价为每股 12 美元，但也将该股标记为高风险。</blockquote></p><p> Compared with regional peers, Citi analysts said Grab benefits from its ability to capture larger volumes of consumer data given higher frequency of delivery and mobility demand compared to services like e-commerce. That gives the company an easier way to cross-sell its financial services products, they added.</p><p><blockquote>花旗分析师表示，与地区同行相比，Grab 受益于其捕获大量消费者数据的能力，因为与电子商务等服务相比，交付频率和移动性需求更高。他们补充说，这为该公司提供了一种更简单的方式来交叉销售其金融服务产品。</blockquote></p><p> The analysts pointed out that Grab has a “broader geographic footprint with more equal strength in the ... Southeast Asia countries in which it operates,” compared with Indonesian rival GoTo Group.</p><p><blockquote>分析师指出，与印尼竞争对手 GoTo Group 相比，Grab 的 “地理覆盖范围更广，在其开展业务的东南亚国家实力更为均等”。</blockquote></p><p> Citi said, however, spending per transaction and per user is lower for Grab than other regional players like Sea, which operates e-commerce platform Shopee. That implies Grab would face more headwinds if Covid cases in the region surge again, forcing countries to impose lockdowns and other mobility restrictions.</p><p><blockquote>然而，花旗表示，Grab 的每笔交易和每用户支出低于运营电子商务平台 Shopee 的 Sea 等其他地区参与者。这意味着，如果该地区的新冠病例再次激增，Grab 将面临更多阻力，迫使各国实施封锁和其他流动限制。</blockquote></p><p> “Grab also lacks a high-margin gaming business and global exposure given its Southeast Asia focus,” Citi analysts said.</p><p><blockquote>“花旗分析师说：”鉴于 Grab 专注于东南亚，它还缺乏高利润的游戏业务和全球曝光率。</blockquote></p><p> <b>Evercore</b></p><p><blockquote><b>永恒核心</b></blockquote></p><p> Evercore initiated coverage with an outperform rating and a price target of $10.</p><p><blockquote>Evercore 以跑赢大盘的评级和 10 美元的目标价开始覆盖。</blockquote></p><p> The firm said Grab will likely face more local competition in each market for its delivery business compared to ridesharing, where the only other international incumbent is GoTo Group’s Gojek — particularly, in Indonesia.</p><p><blockquote>该公司表示，与拼车相比，Grab 的外卖业务在每个市场都可能面临更多的本地竞争，而拼车领域唯一的国际竞争对手是 GoTo 集团的 Gojek，尤其是在印度尼西亚。</blockquote></p><p> “Within its Delivery segment, Grab faces a bit more competition across its core geographies,” Evercore analysts said in a recent note. They flagged the likes of Foodpanda, Gojek and Deliveroo in Singapore, LineMan in Thailand as well as Now and Baemin in Vietnam as competitors.</p><p><blockquote>“Evercore 分析师在最近的一份报告中说：”在外卖领域，Grab 在其核心地区面临着更多的竞争。他们将新加坡的Foodpanda、Gojek和户户送、泰国的LineMan以及Now和越南的Baemin等公司列为竞争对手。</blockquote></p><p></p><p> “Lastly, Grab competes with last-mile logistics providers such as Gojek and Lalamove, and more local last-mile players such as AhaMove (Vietnam),” the analysts said.</p><p><blockquote>“最后，Grab 与 Gojek 和货拉拉等最后一公里物流提供商以及 AhaMove（越南）等更多本地最后一公里供应商竞争，”分析师说。</blockquote></p><p> In the financial services business, Grab faces competition from traditional players including credit card companies, banks as well as cash, which is still the predominant mode of payment in Southeast Asia.</p><p><blockquote>在金融服务业务中，Grab面临着来自传统参与者的竞争，包括信用卡公司、银行以及现金，现金仍然是东南亚的主要支付方式。</blockquote></p><p> Still, the Evercore analysts said that most of Grab’s core business segments including delivery, mobility and financial services remain underpenetrated, which grants the Singapore-headquartered company “a probable long runway for growth.”</p><p><blockquote>尽管如此，Evercore 分析师表示，Grab 的大部分核心业务部门，包括送货、移动和金融服务，仍然渗透率不足，这使得这家总部位于新加坡的公司 “可能有很长的增长跑道”。</blockquote></p><p></p>\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"GRAB":"Grab Holdings"},"is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1122290660","content_text":"Grab stock climbed more than 3% in premarket trading as Wall Street saw massive upside for Asian tech giant Grab, after disappointing debut.\n\nGrab debuted on the Nasdaq following a deal with blank-check company Altimeter Growth Corp., which valued the company at nearly $40 billion. It became the largest-ever company to close a SPAC merger and go public.\nBut shares fell more than 20% from $13.06 to $8.75 a piece in the first day of trading. Since then, the stock has fallen another 16%.\nStill, JPMorgan likes the stock and said the company has a “superior regional superapp” and multiple opportunities for “multi-year growth.” The investment bank said that Grab’s regional leadership in Southeast Asia is driven by a highly scalable and localized platform that is underpinned by its proprietary technology.\n“The platform enables Grab to offer its services at a structurally lower cost base vs peers, with higher retention rates,” JPMorgan analysts wrote in their initiation coverage note earlier this month. “Grab’s platform gives it further advantages over its peers with limited geographical presence and/or fewer services, as Grab can allocate cash flows across countries and services to deliver on growth.”\nHere are JPMorgan, Citi and Evercore’s ratings and price targets for Grab, and why they like the stock:\nJPMorgan\nJPMorgan initiated coverage on Grab with an overweight rating and a price target of $12.50 over the next 12 months — that represents over 70% upside from the Dec. 23 closing price of $7.35.\nBased on the investment bank’s rating system, an overweight rating implies JPMorgan expects Grab’s stock to outperform over the next six to 12 months.\nThe analysts said Grab’s superior regional app, comprising multiple services including ride-hailing and food delivery, is “best geared to rising online consumption” in Southeast Asia. They said they identified gross merchandize value and revenue growth as key catalysts for the company and they see “multiple opportunities for multi-year growth.”\nGMV is a metric often used in e-commerce to measure the total dollar value of goods sold over a certain period of time.\nThe investment bank said Grab is a leader in ride-hailing across the region and that could lead to a highly profitable mobility business, where lifting Covid restrictions and broader economic reopening could drive growth.\nWhile the company’s delivery business is at an earlier stage of development, JPMorgan said there’s growth potential due to the relatively fragmented, but large total addressable market for food delivery and groceries. But the bank said that Grab is likely to see losses in the near-to-mid term due to investments and competition for market share.\nThe analysts warned, however, that Grab’s stock price could be volatile over the next six months as the free float expands due to staggered expiration of lock-ups that will release additional shares. Potential inclusion in MSCI indexes could also contribute to the volatility, JPMorgan said.\nCiti\nCiti initiated coverage of Grab with a buy rating and a price target of $12 a share, but also flagged the stock as high risk.\nCompared with regional peers, Citi analysts said Grab benefits from its ability to capture larger volumes of consumer data given higher frequency of delivery and mobility demand compared to services like e-commerce. That gives the company an easier way to cross-sell its financial services products, they added.\nThe analysts pointed out that Grab has a “broader geographic footprint with more equal strength in the ... Southeast Asia countries in which it operates,” compared with Indonesian rival GoTo Group.\nCiti said, however, spending per transaction and per user is lower for Grab than other regional players like Sea, which operates e-commerce platform Shopee. That implies Grab would face more headwinds if Covid cases in the region surge again, forcing countries to impose lockdowns and other mobility restrictions.\n“Grab also lacks a high-margin gaming business and global exposure given its Southeast Asia focus,” Citi analysts said.\nEvercore\nEvercore initiated coverage with an outperform rating and a price target of $10.\nThe firm said Grab will likely face more local competition in each market for its delivery business compared to ridesharing, where the only other international incumbent is GoTo Group’s Gojek — particularly, in Indonesia.\n“Within its Delivery segment, Grab faces a bit more competition across its core geographies,” Evercore analysts said in a recent note. They flagged the likes of Foodpanda, Gojek and Deliveroo in Singapore, LineMan in Thailand as well as Now and Baemin in Vietnam as competitors.\n“Lastly, Grab competes with last-mile logistics providers such as Gojek and Lalamove, and more local last-mile players such as AhaMove (Vietnam),” the analysts said.\nIn the financial services business, Grab faces competition from traditional players including credit card companies, banks as well as cash, which is still the predominant mode of payment in Southeast Asia.\nStill, the Evercore analysts said that most of Grab’s core business segments including delivery, mobility and financial services remain underpenetrated, which grants the Singapore-headquartered company “a probable long runway for growth.”","news_type":1,"symbols_score_info":{"GRAB":0.9}},"isVote":1,"tweetType":1,"viewCount":4094,"commentLimit":10,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"symbols":[],"verified":2,"subType":0,"readableState":1,"langContent":"CN","currentLanguage":"CN","warmUpFlag":false,"orderFlag":false,"shareable":true,"causeOfNotShareable":"","featuresForAnalytics":[],"commentAndTweetFlag":false,"andRepostAutoSelectedFlag":false,"upFlag":false,"length":6,"subscribersOnly":false,"subscribersOnlyAccessible":false,"xxTargetLangEnum":"ZH_CN"},"commentList":[],"isCommentEnd":true,"isTiger":false,"isWeiXinMini":false,"url":"/m/post/696941237"}
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