Brokerage firm Bernstein, highlighting the rapid expansion of the quick commerce (QC) sector, has reaffirmed its 'Outperform' rating on Zomato and raised its target price to Rs 330. This adjustment implies a potential increase of 16% from the previous closing price of Rs 283.9.
Bernstein observes that initial expectations about QC—such as its focus on small 'top-up' orders, its appeal being restricted to metropolitan areas rather than Tier 2 cities, and its primary appeal to affluent consumers—have been revised upwards each quarter.
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