Zomato Gains Over 2% To 52-Week High After HSBC Raises Target To INR 150

Zomato Gains Over 2% To 52-Week High After HSBC Raises Target To INR 150

SUMMARY

HSBC, while retaining its ‘buy’ rating on Zomato, raised its target for the stock by Rs 10 to INR 150 per share

HSBC analysts shared a positive long-term outlook for Zomato, maintaining a constructive view despite anticipating subdued growth in the calendar year 2024

Meanwhile, Elara Securities analysts shared a "buy" recommendation on Zomato recently setting a target price of INR 150

Shares of food delivery major Zomato gained by as much as 2.5% to a 52-week high of INR 138 a piece on BSE during Thursday’s session (January 11).

This was after global brokerage firm HSBC, while retaining its ‘buy’ rating on Zomato, raised its target for the stock by Rs 10 to INR 150 per share.

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