Choice Equity Broking has given Buy recommendation for Zomato with a target price of Rs. 175 in its research report issued on Oct 11, 2021
Choice Equity Broking’s report on Zomato
Zomato Ltd., founded in 2008 is an online food delivery company. Zomato’s technology app connects the customers, restaurant partners and the delivery partners. The customers use the app to search restaurants, order food, book a table, etc. The restaurant partners are provided with marketing tools which enables them to acquire customers and are also provided with efficient delivery service. While the delivery partners get flexible earning opportunities. Apart from all these, it operates Hyperpure, which supplies high quality ingredients and kitchen products to restaurant partners.
The food services industry is massive, which provides a food aggregator company like Zomato with immense opportunities to grow. Considering the long term growth potential, we assign a “BUY” rating on the stock with a target price of Rs. 175 per share.