Zomato zooms 5%, nears record high after CLSA raises target price by 22%

CLSA maintained its 'buy' rating on Zomato and lifted the target price from Rs 181 to Rs 227 per share.

Shares of Zomato hit a fresh 52-week high of Rs 159.20 on the BSE in Friday’s intra-day trade after brokerage firm CLSA maintained ‘Buy’ rating on the stock and raised the target price from Rs 181 to Rs 227 per share. 

The stock of the food aggregator platform company was trading close to its record high of Rs 169 touched on November 16, 2021. Thus far in the calendar year 2024, it has zoomed 29 per cent, as compared to 0.5 per cent decline in the S&P BSE Sensex.

In past six trading days, the stock price of Zomato has