MARKET RESPONDS 

Zomato shares rose 7.7% to ₹261.60 following JP Morgan’s target price upgrade.

JP Morgan increased its target price for Zomato from ₹208 to ₹340, citing Blinkit's successful expansion.

CLSA set a higher target of ₹353 for Zomato, maintaining an "overweight" rating and forecasting profitability for Blinkit by FY25.

Zomato's Blinkit has scaled across major metro cities, boosting monetization and EBITDA outlook.

JP Morgan believes Blinkit will disrupt modern trade and e-commerce, leading to a 40% upside in the stock price.

JP Morgan raised its FY25-27 forecasts by 15% to 41% due to Blinkit’s expansion and a new ticketing venture.

CLSA noted Blinkit’s improving profitability despite expansion and predicts it may surpass Zomato's food delivery segment.

UBS, Jefferies, Morgan Stanley, and Nomura also raised Zomato’s target prices, reflecting positive performance and growth expectations.

UBS raised its target to ₹320, Jefferies to ₹275, Morgan Stanley to ₹278, and Nomura to ₹280 per share.

Nomura forecasts Q-commerce growth of 100%-110% annually and Zomato approaching EBITDA breakeven by FY25.