Despite headwinds, Jefferies recommends buying Zomato stock. here’s why

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With its share price falling sharply since listing, Jefferies analysts suggest long-term investors should ‘buy’ the stock

Topics
Zomat | Markets | Jefferies


Puneet Wadhwa |
New Delhi



Shares of Zomato have fallen nearly 19% in the past two trading sessions after the end of a year-long freeze on all of its pre-IPO (IPO) holdings. Despite concerns surrounding the company’s profitability, the acquisition of Blinkit which analysts say will only lengthen its road to profitability and the sharp drop in its share price since its IPO, analysts at Jefferies suggest long-term investors to “buy” the stock and hold it to a price target of Rs 100.


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First published: Tuesday, July 26, 2022. 12:14 p.m. IST

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