HSBC maintained a buy rating on Zomato but raised the target price to Rs 150 from Rs 140 earlier.
After an extremely strong 2023, the global investment bank expects a relatively muted business and stock performance in 2024.
The long-term view remains constructive and highly dependent on the continued progression of the QC business. Q3 and Q4 are unlikely to drive major earnings upgrades.
Comments
Post a Comment