JM Financial raised the target price of Zomato

(20 second reading) The share price of Zomato gained rose over one percent today (April 12) as the stock extended gains for the sixth straight session. Zomato shares gained 1.49% to a fresh record high of Rs.199.75 apiece on the BSE. This comes after JM Financial raised the target price on the stock and said that it sees an upside potential of over 32%.
JM Financial put a ‘Buy’ rating on the stock and raised Zomato share price target to Rs.260 per share from Rs.200 earlier. The brokerage cited a significant rise of Blinkit, Zomato’s quick commerce business. JM Financial’s three-year target price for Zomato stands at Rs.400 per share.