Citing the rapid growth of the quick commerce (QC) economy, brokerage firm Bernstein has maintained its ‘Outperform’ rating on Zomato and revised its target price to Rs 330, suggesting an upside potential of 16% from the previous day’s closing price of Rs 283.9. Bernstein points out that initial assumptions about QC, such as it being … Read more
Shares of Zomato rose 3% in Thursday’s early session to its day’s high of Rs 280.65, inching towards its all-time high level after the global brokerage firm UBS maintained a buy rating on the stock with a target price of Rs 320 on the back of company’s growth optimism. UBS in its note stated that … Read more
Junior Nifty or the Nifty Next 50 has outperformed its smallcap and midcap index peers delivering 67% returns over one year, led by a solid performance across the board with seven multibaggers and 39 other stocks giving double-digit returns. Meanwhile, Nifty Smallcap 100 and Nifty Midcap 100, which are among the most tracked broader market … Read more
Shares of Zomato rallied 7.6% on the BSE today, reaching an intraday high of Rs 261.50, after JPMorgan raised the stock’s target price to Rs 340 from Rs 208, while maintaining an overweight rating. JPMorgan stated that Zomato is leading rapid retail consumer transformation through convenience-focused Quick Commerce. The company is expanding its presence across … Read more
Dalal Street’s top stock picker and billionaire Raamdeo Agrawal of Motilal Oswal Financial Services, who has been bullish on quick commerce, has picked up stakes in IPO-bound Swiggy and another unicorn Zepto. Agrawal’s interest in both the new-age businesses comes at a time when quick commerce is at an all-time high in terms of fundraising, … Read more
Following a sharp 17% rally in Zomato shares amid blockbuster results, the new-age stock could rally to Rs 292 in the near term, with a stop loss at Rs 252-240, says Anand James, Chief Market Strategist at Geojit Financial Services. “Directional moving indicators and most oscillators point to strength and continuation of the uptrend. Fast … Read more
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Zomato shares have rallied 21% since June 4, the day of election outcome, as against the 11% surge seen by the S&P BSE Sensex in this period, outperforming the latter by nearly twice. On Tuesday, the stock closed above previous week’s high, registering a weekly breakout. The stock is a momentum pick, say analysts who … Read more
While noting that Zomato is well ahead of IPO-bound peer Swiggy, global brokerage firm CLSA has a target price of Rs 248 per share on the new-age stock. Prosus, which holds a 32.7% stake in Swiggy, in its annual results release, disclosed that Swiggy’s overall GMV growth (including food delivery, quick commerce, and dining out … Read more
Brokerage firm JPMorgan maintained an overweight rating on Westlife Foodworld, Macquarie recommended an outperform rating on Asian Paints, HSBC maintained a buy rating on Zomato and Morgan Stanley recommended equal weight stance on AB Capital. We have collated a list of recommendations from top brokerage firms from ETNow and other sources: JPMorgan on Westlife Foodworld: … Read more
