CLSA Predicts Zomato Shares to Hit ₹350 Amid Expansion and Profitability Efforts

NBC
NBC
1y ago
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Brokerage firm CLSA has set a target price of ₹350 for Zomato's shares, following the company's promising Q1 results driven by Blinkit operations and overall profitability. The report highlights Zomato's ongoing expansion efforts and strategic moves to enhance its financial performance.
CLSA Predicts Zomato Shares to Hit ₹350 Amid Expansion and Profitability Efforts
A What happened
Brokerage firm CLSA has set a target price of ₹350 for Zomato's shares, following the company's promising Q1 results driven by Blinkit operations and overall profitability. The report highlights Zomato's ongoing expansion efforts and strategic moves to enhance its financial performance.
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Key insights

  • 1

    Positive Q1 Results: Zomato's Q1 results have been well-received, with the company demonstrating strong financial performance and growth in various segments.

  • 2

    Blinkit Expansion: The Blinkit expansion has shown profitability, adding to Zomato's optimistic future outlook according to analysts.

  • 3

    Brokerage Reactions: Several brokerage firms, including CLSA, have responded positively by adjusting their share price targets for Zomato, reflecting increased confidence in the company's strategy and execution.

Takeaways

Zomato's strong Q1 results and the profitable expansion of Blinkit have led to increased confidence among brokerages, with CLSA raising its share price target to Rs 150. This indicates a positive market outlook for Zomato moving forward.

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