Street Calls of the Week
Investing.com - Goldman Sachs has raised its price target on Eternal Ltd (ETERNAL:IN) to INR360.00 from INR340.00 while maintaining a Buy rating on the stock.
The investment bank cited strong growth momentum in Blinkit, noting that its fiscal year 2027 NOV (net order value) estimates are now tracking approximately 80% higher than what was expected 12 months ago and 260% higher than projections from 24 months ago.
Goldman Sachs expects Blinkit’s store count to double over the next 2-3 years, potentially leading to meaningful market share expansion that the firm believes is not fully reflected in Zomato’s current share price.
The research note highlighted expectations for margin expansion in the Blinkit segment by 240 basis points over the next two quarters, with EBITDA break-even projected by December 2025, which Goldman Sachs identified as a key catalyst for the stock.
Based on high-frequency data, Goldman Sachs anticipates year-over-year acceleration in NOV growth for both Zomato’s quick commerce and food delivery segments in the second quarter of fiscal year 2026, with potential upside to estimates if momentum continues through the end of the quarter.
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