Highlights

  • Zomato stock has surged nearly 160% in the last 52 weeks
  • HSBC has set a new target price for Zomato at ₹330 per share
  • This marks over 20% potential upside from current levels
  • HSBC has issued a ‘BUY’ rating for Zomato shares

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Multi-Bagger Returns: HSBC Bets Big on Zomato, Expects Stock to Hit New Highs

Zomato stock has given multi-bagger returns to its investors in last one year. The stock is up almost 160% in 52 weeks. HSBC believes there's more upside to the stock. HSBC has given a BUY call on Zomato, giving target price to ₹330 per share.

Multi-Bagger Returns: HSBC Bets Big on Zomato, Expects Stock to Hit New Highs

Had you invested one lakh rupees in Zomato a year ago, today it would be worth almost 2.6 lakh rupees.

The food-delivery giant has delivered multi-bagger returns to its investors over the past year.

And global brokerage firm HSBC believes the party is not over yet.

HSBC has issued a ‘BUY’ call on Zomato, raising the price target to 330 rupees per share – a potential upside of nearly 22% from current levels.

HSBC expects stability in competition within the fast delivery space, along with Zomato’s expansion into the dining-out business, to boost the company’s performance.

Tell us what you think of Zomato’s performance. And don’t forget to subscribe to BusinessHook for more such updates.

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