UBS has reaffirmed its buy rating on Zomato, with a target price of ₹320. The brokerage cited strong growth in the quick commerce segment during Q2FY25, which helped offset a slight moderation in the food delivery business. UBS also highlighted that the company’s take rates were slightly lower, which management attributed to seasonality.
UBS’s positive outlook stems from Zomato’s ability to balance its growth across different segments, despite near-term fluctuations. With quick commerce becoming a major growth driver, the brokerage believes Zomato has potential for significant gains in the future.
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