Zomato stock beats peers with 2.6x run; analysts still upbeat
Financial Express Mumbai|April 16, 2024
ZOMATO HAS OUTPACED gains in all the world's major delivery stocks over the past year, sending analysts scrambling to boost their outlooks for the Indian company as its profitability improves.
CHIRANJIVI CHAKRABORTY

Price target upgrades for Zomato in the past 12 months exceed those for all other stocks in a Bloomberg Intelligence gauge of global ride sharing and delivery peers. At least five brokerages have lifted their estimates for the shares in just the past few weeks, including Citigroup and HSBC Holdings.

The nearly 260% surge in Zomato since last April has made it difficult for consensus to keep up, but expectations continue to rise.

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