Zomato’s 260% Stock Surge Has Analysts Scrambling to Catch Up
- Zomato price target raised by brokers including Citi recently
- Better profitability, growth in new businesses drive optimism
The nearly 260% surge in Zomato since last April has made it difficult for consensus to keep up, but expectations continue to rise.
Photographer: Dhiraj Singh/BloombergThis article is for subscribers only.
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Zomato Ltd. has outpaced gains in all the world’s major delivery stocks over the past year, sending analysts scrambling to boost their outlooks for the Indian company as its profitability improves.