Grab Holdings' Profitability and Business Mix Strategy Under Scrutiny Amid Analyst Revisions

Grab Holdings' investment narrative has shifted with analysts trimming profit estimates while keeping a positive rating and upgrading the stock on expectations of better profitability. The contrasting views converge on a common theme: Grab's push into quick commerce and fintech is pressuring margins today but could reshape its business mix over time. With a focus on adjusted EBITDA, investors are growing more comfortable with the trade-off, particularly given Grab's net cash. However, investors should be aware that profitability is still thin and sensitive to execution missteps.