Zomato gained 183% in a year, 111% in 2024 so far; should you bet on the stock? Here’s what Morgan Stanley projects

Global brokerage firm Morgan Stanley has reaffirmed its “Overweight” rating on Zomato, setting a target price of ₹278 per share, signaling a nearly 8 percent upside from the last closing price. This optimistic outlook comes after Zomato’s impressive 46 percent surge since May, bolstered by strong June quarter results. Despite the competitive pressures in the quick commerce (QC) business, Morgan Stanley remains confident in Zomato’s long-term potential.