Zomato shares rose 7.7% to <span class='webrupee'>₹</span>261.60 following JP Morgan’s target price upgrade.
Credit : PIXABAY
JP Morgan increased its target price for Zomato from <span class='webrupee'>₹</span>208 to <span class='webrupee'>₹</span>340, citing Blinkit's successful expansion.
Credit : PIXABAY
CLSA set a higher target of <span class='webrupee'>₹</span>353 for Zomato, maintaining an "overweight" rating and forecasting profitability for Blinkit by FY25.
Credit : PIXABAY
Zomato's Blinkit has scaled across major metro cities, boosting monetization and EBITDA outlook.
Credit : PIXABAY
JP Morgan believes Blinkit will disrupt modern trade and e-commerce, leading to a 40% upside in the stock price.
Credit : PIXABAY
JP Morgan raised its FY25-27 forecasts by 15% to 41% due to Blinkit’s expansion and a new ticketing venture.
Credit : PIXABAY
CLSA noted Blinkit’s improving profitability despite expansion and predicts it may surpass Zomato's food delivery segment.
Credit : PIXABAY
UBS, Jefferies, Morgan Stanley, and Nomura also raised Zomato’s target prices, reflecting positive performance and growth expectations.
Credit : PEXELS
UBS raised its target to <span class='webrupee'>₹</span>320, Jefferies to <span class='webrupee'>₹</span>275, Morgan Stanley to <span class='webrupee'>₹</span>278, and Nomura to <span class='webrupee'>₹</span>280 per share.
Credit : PIXABAY
Nomura forecasts Q-commerce growth of 100%-110% annually and Zomato approaching EBITDA breakeven by FY25.