Jefferies has recommended buy of Zomato for 17% upside
Posted: Sat Nov 30, 2024 4:06 pm
Jefferies says Zomato shares have the potential to rise 17% more from the closing price of November 28, which has set a target price of ₹335.
In the past year, Zomato shares have given a return of more than 140% to its investors, as against benchmark Nifty 50 which has risen 20% during the period.
In its brokerage note, Jefferies stated that Zomato has unveiled the 'District' app, which is a one-stop destination for going out. Starting with dining out and ticketing, the platform is expected to come up with new use cases.
The company’s management has said that the one-stop destination theme is for the next decade.
Jefferies is of the view that given that the market is supply-constrained it means an opportunity for Zomato to make the most of it.
In the past year, Zomato shares have given a return of more than 140% to its investors, as against benchmark Nifty 50 which has risen 20% during the period.
In its brokerage note, Jefferies stated that Zomato has unveiled the 'District' app, which is a one-stop destination for going out. Starting with dining out and ticketing, the platform is expected to come up with new use cases.
The company’s management has said that the one-stop destination theme is for the next decade.
Jefferies is of the view that given that the market is supply-constrained it means an opportunity for Zomato to make the most of it.