In a stunning declaration, Morgan Stanley has reiterated its overweight call on Zomato, setting a jaw-dropping target price of INR 235 per share—a daring 21% upside from the previous close. According to a bombshell Moneycontrol report, the brokerage firm insists that all macro and micro factors are perfectly aligned for a meteoric rise in India’s internet stocks.
Over the past five quarters, Zomato has been on an unstoppable ascent, becoming a red-hot favorite among investors with a market cap skyrocketing to an astonishing $20 billion (INR 1.6 lakh crore). This bold prediction from Morgan Stanley has left the market in a frenzy, with everyone asking: Is this the next big thing, or is the bubble about to burst?
