$GRAB Bofa on name Target change: The new $4.50 target is 8.16% below BofA’s prior $4.90 target. • Implied upside: BofA calculated 44.69% projected upside from Grab’s $3.11 share price. • Third-quarter trends: The analyst said food-delivery and mobility momentum remains good despite high fuel prices. • Fourth-quarter outlook: BofA expects steady momentum into Q4, supported by seasonal tourism uptake. • Indonesia operations: The firm cited stable competition, flexibility on delivery fees, and gradually improving Indonesian profitability. 25-SEP-2026 08:13 AM ET