At a time when Zomato shares are under severe pressure, with the stock price now more than 63% lower than its BSE debut price, Jefferies has reiterated its optimism about the stock’s long-term growth prospects.
With several investors currently selling Zomato stocks, primarily due to the latter’s recent Blinkit acquisition, Jefferies analysts see this as an excellent opportunity for long-term investors to buy. Jefferies has maintained its ‘buy’ rating on Zomato stock and set a price target (PT) of INR 100. The brokerage’s PT for the upside scenario is INR 160, while the PT for the downside scenario is INR 40.
Disclaimer
We strive to uphold the highest ethical standards in all of our reporting and coverage. We StartupNews.fyi want to be transparent with our readers about any potential conflicts of interest that may arise in our work. It’s possible that some of the investors we feature may have connections to other businesses, including competitors or companies we write about. However, we want to assure our readers that this will not have any impact on the integrity or impartiality of our reporting. We are committed to delivering accurate, unbiased news and information to our audience, and we will continue to uphold our ethics and principles in all of our work. Thank you for your trust and support.
At a time when Zomato shares are under severe pressure, with the stock price now more than 63% lower than its BSE debut price, Jefferies has reiterated its optimism about the stock’s long-term growth prospects.
With several investors currently selling Zomato stocks, primarily due to the latter’s recent Blinkit acquisition, Jefferies analysts see this as an excellent opportunity for long-term investors to buy. Jefferies has maintained its ‘buy’ rating on Zomato stock and set a price target (PT) of INR 100. The brokerage’s PT for the upside scenario is INR 160, while the PT for the downside scenario is INR 40.
Disclaimer
We strive to uphold the highest ethical standards in all of our reporting and coverage. We StartupNews.fyi want to be transparent with our readers about any potential conflicts of interest that may arise in our work. It’s possible that some of the investors we feature may have connections to other businesses, including competitors or companies we write about. However, we want to assure our readers that this will not have any impact on the integrity or impartiality of our reporting. We are committed to delivering accurate, unbiased news and information to our audience, and we will continue to uphold our ethics and principles in all of our work. Thank you for your trust and support.
