Zomato Stock Target Set at Rs 235 by Morgan Stanley

Morgan Stanley has maintained its positive outlook on Zomato, setting a target price of Rs 235 per share. This suggests a potential increase of 21 percent from the previous closing price.

The brokerage highlighted that Zepto’s recent funding round has underscored the growing importance of the quick commerce sector. Zomato is a significant player in this space, especially after buying BlinkIt in June 2022.

However, competition in this market is expected to intensify soon. If this happens, Morgan Stanley warns that BlinkIt might struggle to stay profitable, which could impact Zomato’s stock price.

Despite this, Morgan Stanley believes that any drop in Zomato’s stock could be a good chance for long-term investors to buy.

In the past year, Zomato’s shares have surged by 160 percent, compared to a 25 percent rise in the Nifty 50 index.


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