Motilal Oswal's research report on Zomato
The food delivery industry in India is all set to grow rapidly in the medium term driven by intensifying internet penetration, rising consumption and growth in urbanization. Zomato is a dominant player in the industry and we forecast the company to report 29% revenue CAGR over FY23-25. We expect strong growth to be complemented by the company turning profitable over FY25, despite elevated competitive intensity.
Outlook
We initiate our coverage on the stock with a BUY rating and a target price of INR70.
For all recommendations report, click here
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