Despite a bullish stock market, shares of food delivery giants Zomato and Swiggy are declining. Three different brokerage firms are bullish on both stocks.
English
Zomato and Swiggy shares expected to rise
Brokerage firms CLSA, JP Morgan, and Bernstein have issued reports on both stocks, indicating positive growth outlook and profitability.
English
Zomato Share Price Target
CLSA has given a buy rating on Zomato, increasing the target from ₹370 to ₹400. JP Morgan has given a target of ₹340 and Bernstein ₹335.
English
Zomato Share Price
On Thursday, January 16, 2025, Zomato's share closed at ₹243.85, a slight decline of 0.020%.
English
Swiggy share expected to rise
According to brokerage reports, Swiggy is benefiting from multiple growth drivers. Expanding dark stores will increase reach in new markets, impacting share performance.
English
Swiggy Share Price Target
CLSA has increased Swiggy's target price from ₹708 to ₹750. JP Morgan has given a target of ₹730 and Bernstein ₹635.
English
Swiggy Share Price
On Thursday, January 16, 2025, Swiggy's share also declined, closing at ₹485, down 0.47%.
English
Note
Consult your market expert before making any investment.