The news of JP Morgan raising its target price on Zomato to Rs 340 per share is indeed significant.
- It’s important to assess Zomato’s recent performance and future growth prospects to understand the rationale behind JP Morgan’s target price increase.
- Factors such as revenue growth, user acquisition, and profitability will be crucial in determining the company’s long-term success.
- The target price increase of 40% suggests that JP Morgan believes Zomato is undervalued at its current market price.
- This could be due to various factors, such as the company’s growth potential, improving financials, or positive market sentiment.
