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

Name: Multi-Bagger Returns: HSBC Bets Big on Zomato, Expects Stock to Hit New Highs
Uploaded: 2024-10-08T13:26:14.000+05:30
Duration: T00M43S
Channel: Editorji News Desk
Description: 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...

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.

Updated: Sep 02, 2022 10:53

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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.

Frequently Asked Questions

What are the multi-bagger returns Zomato has delivered to its investors in the past year?❯

Had you invested one lakh rupees in Zomato a year ago, today it would be worth almost 2.6 lakh rupees, marking a return of almost 160%.

What is HSBC's investment recommendation for Zomato?❯

What factors does HSBC believe will boost Zomato's performance?❯

What is the potential upside of Zomato's stock according to HSBC?❯

What has been the percentage increase in Zomato stock over the past 52 weeks?❯

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

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