After multibagger returns in 2024 YTD, brokerages remain bullish on Zomato

After a strong recovery in the last one year, multiple brokerage houses have become bullish on Zomato, one of India’s leading food delivery aggregators.

Recently, global brokerage house JPMorgan upgraded its valuation for Zomato by an impressive 63 percent. The brokerage raised its target price for Zomato from ₹208 for June 2025 to ₹340 for December 2025, signalling a strong potential upside of nearly 31 percent. This bold revision reflects JPMorgan’s confidence in Zomato’s dominant market position and growth prospects as the company continues to lead the transformation of the food delivery and quick commerce sectors in India.