Swiggy share price jumps 6% as CLSA initiates ‘outperform’ rating on the stock, sees 32% upside

Swiggy share price: Global brokerage firm CLSA has become the latest to join the growing list of analysts optimistic about food delivery giant Swiggy. The firm has initiated an “outperform” rating on Swiggy’s stock, setting a target price of ₹708, which suggests a potential upside of nearly 32%.

Post CLSA’s initiation report, the food delivery to quick commerce stock climbed as much as 5.6 per cent to its day’s high of ₹567.80. Swiggy is now trading nearly 38 per cent higher than its IPO price of ₹412, and is just 1.5 per cent away from its all-time high of ₹576.95, scaled on December 5.