Do you have Zomato shares in your portfolio? Here's what UBS analysts make of the Zomato stock now.
The brokerage has raised its target price for Zomato to Rs 320 from Rs 260.
Zomato surprised UBS analysts positively in Q1, with strong GMV growth of 130% but also its solid growth of 27% in food deliver, both better than their estimates.
The food delivery company's management commentary appears to be positive, according to the brokerage.
Zomato shares trade at an EV-to-EBITDA multiple of 35 times the FY27 estimates, as against a peer average of 30 times (in the Indian consumer and retail space), according to UBS.