Brokerages raise targets after Zomato's above-estimate Q3 results; Jefferies says stock will cross Rs 200 hurdle
Stock to Buy: In its December quarter results, Zomato has earned a consolidated profit after tax of Rs 138 crore. After the food delivery business company's impressive results, brokerage houses are bullish on Zomato shares. The Zomato stock is going through a purple patch and has given over 180.39 per cent return in the last one year. The stock also hit a 52-week high of Rs 151.45 on BSE on Friday.
JP Morgan has maintained its 'overweight' view on Zomato. The brokerage has increased the share price target from Rs 170 to Rs 175. Photo: Reuters/Representational