The stock has seen a decline of up to 65% in 52 weeks, this is the right time to buy the stock
Shares of Zomato are down 65 per cent from their
Shares have fallen by 14% in the last 2 years
Speaking on Zomato, Jefferies said that the Fed's tightening and investor focus on cash flow is putting pressure on internet names, including food tech, globally.
It set a target price of Rs 100 for the food delivery firm.
However, in a bullish scenario, Jefferies said Zomato could reach Rs 160 in the next 12 months.
Zomato made a strong market debut on July 23, 2021, as the stock opened at Rs 116 on NSE, a 52.63 per cent premium over its IPO issue price of Rs 76.
The listing price on BSE was up 51.32 per cent at Rs 115. ,
this is the right time to buy the stock
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