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Zomato Shares Soar 7% on CLSA's 'Bullish' Stance

OutlookIndia · 2m

Zomato's stock surged 7% after CLSA, a Hong Kong-based brokerage firm, maintained its "high-conviction outperformance" listing for the company and raised its price target from ₹370 to ₹400. Despite a recent dip of 20% from its 52-week high, CLSA is optimistic about the growth prospects of Zomato’s quick commerce segment, projecting significant revenue and EBITDA growth by fiscal 2027. Most analysts tracking Zomato continue to rate it as a 'buy'.