Grab: The Indonesia Panic Is The Opportunity

Grab Holdings Limited is reaffirmed as a Strong Buy with an updated price target of $7.80, reflecting robust Q1 2026 results and strategic catalysts. Q1 2026 delivered $955 million in revenue, 46% EBITDA growth, and a 12x net profit increase, despite seasonal softness and regional headwinds. The Indonesian commission cap is now a realized headwind, compressing Mobility margins on 20% of revenue, but Deliveries and Financial Services remain unaffected and are growing rapidly.