News from
Goldman Sachs sees 50% upside in Zomato, calls Blinkit pessimism overdone
2025-04-24 16:45:02| Spiritual Career Counseling
SynopsisGoldman Sachs remains confident in Zomato, maintaining a 'buy' rating with a target price of Rs 310 despite recent stock declines and concerns about Blinkit. They argue that the quick commerce arm's issues are overblown, and Zomato's food delivery business is undervalued. Last week, Goldman acquired 60.07 lakh Zomato shares worth Rs 281 crore.ETtechGoldman Sachs struck an optimistic tone on Zomato on Friday, arguing that concerns around its quick commerce arm Blinkit are exaggerated and current valuations overly pessimistic, even as the stock fell as much as 2.4% to Rs 205.85 on the day.Goldman Sachs reiterated a "buy" rating on Zomato with a target price of Rs 310, implying an upside of over 50% from current levels. The brokerage believes that at the current market price, investors are effectively assigning negligible value to Zomatos food delivery business or assuming that Blinkits EBITDA margins have structurally halved both scenarios it considers highly unlikely.The ris...
Category:
Employment