Bernstein hikes Zomato target price, projects 16% upside amid quick-commerce boom

Brokerage firm Bernstein has upheld its 'Outperform' rating on Zomato and adjusted its target price to Rs 330, indicating a potential increase of 16% from the previous day's closing price of Rs 283.9. The firm attributes this revised outlook to the rapid expansion of the quick commerce (QC) sector. Bernstein notes that initial assumptions about QC—such as its focus on small 'top-up' orders, its appeal being limited to metropolitan areas, and its catering mainly to affluent consumers—have been consistently updated each quarter.