Goldman Sachs has reiterated its buy rating on Eternal, raising the target price to ₹360 per share, which implies a potential upside of about 9.8% from the current market price of ₹327.70.
The brokerage highlighted strong growth in Blinkit, with FY27 net order value (NOV) estimates now 80% to 260% higher compared with its earlier expectations. It added that store count is expected to double in the next 2–3 years, while share gains are not yet fully reflected in the current valuation.
Goldman Sachs also expects stable competition, slower store growth, and the transition to a first-party (1P) model to help expand margins by 240 basis points over the next two quarters.
Disclaimer: The views and investment recommendations expressed are those of Goldman Sachs. These do not represent the views of this publication and should not be considered as investment advice. Investors are advised to consult their financial advisors before making any investment decisions.
