0859 GMT - GoTo Gojek Tokopedia's strong 1Q earnings results with small bottom-line losses have set a "solid foundation" for a potential merger with Grab, Citi Research analysts say in a note. The group's cost-efficiency efforts and strong cash position support a positive outlook, Citi says. Citi has a buy rating on the stock and raises its target price to IDR110 from IDR95. While neither company has commented on the talks, recent executive resignations at GoTo could be internal realignment efforts by management to streamline its business structure ahead of a possible merger, they say. Moves have been made that indicate a potential consolidation of influence under GoTo's CEO to ensure a smoother transition in the event of deal with Grab and may signal a strategic pivot, they add. (kimberley.kao@wsj.com)
(END) Dow Jones Newswires
May 05, 2025 04:59 ET (08:59 GMT)
Copyright (c) 2025 Dow Jones & Company, Inc.
免責聲明：投資有風險，本文並非投資建議，以上內容不應被視為任何金融產品的購買或出售要約、建議或邀請，作者或其他用戶的任何相關討論、評論或帖子也不應被視為此類內容。本文僅供一般參考，不考慮您的個人投資目標、財務狀況或需求。TTM對信息的準確性和完整性不承擔任何責任或保證，投資者應自行研究並在投資前尋求專業建議。