Zomato Shares Rise 2% as CLSA Maintains 'Outperform', Sees 32% Upside
Zomato's stock saw a 2% uptick in early trading today after global brokerage CLSA reiterated its "Outperform" rating on the food delivery giant. The firm also projected a potential 32% upside for the company's shares, citing strong growth prospects in both its food delivery and dining-out businesses. CLSA's positive outlook comes amidst Zomato's continued efforts to expand its market presence, improve profitability, and diversify its offerings. Investors reacted favorably to the report, pushing Zomato's shares higher as market sentiment remains upbeat about its long-term potential.