Shares of Swiggy Ltd. and Eternal Ltd. climbed in Thursday’s trade after global brokerage Citi raised its price targets on both companies, citing robust growth momentum in quick-commerce and improving profitability trends.
Citi upgraded its target price for Eternal by 16% to Rs 395 and for Swiggy to Rs 495, while maintaining a ‘Buy’ rating on both stocks. The brokerage highlighted Blinkit’s accelerating growth, driven by higher app traffic, new city launches, and dark store expansion, positioning Eternal as the clear leader in the quick-commerce segment.
For Swiggy, Citi noted steady gains in food delivery revenue and a narrowing loss in quick commerce, with margins improving sharply and the business nearing breakeven in the next few quarters.
Both stocks reacted positively to the upbeat outlook — Eternal shares gained nearly 1%, while Swiggy rose around 1.2% in early trade, as investors cheered the brokerage’s confidence in the sector’s scalability and improving earnings trajectory.
Disclaimer:
The information provided is for informational purposes only and should not be considered financial or investment advice. Stock market investments are subject to market risks. Always conduct your own research or consult a financial advisor before making investment decisions. Author or Business Upturn is not liable for any losses arising from the use of this information.