Eternal shares climbed more than 3% on Friday, reaching Rs 292.90 per share after Goldman Sachs reaffirmed its “buy” recommendation.
Price action
The stock rose 3.3% on the NSE, marking the third consecutive day of gains. Over the past three months, the share price has fallen about 17%, while the broader market indices have risen roughly 3%.
Goldman Sachs' stance
Goldman kept its “buy” rating but lowered the target price to Rs 375 from Rs 390. The firm said it disagrees with how much negativity the market has priced into Eternal, despite concerns about competition and a slowdown in quick‑commerce.
Company snapshot
Eternal is the parent of the food‑delivery platform Zomato and the quick‑commerce service Blinkit.
Key takeaways for investors
- The stock’s recent bounce suggests some confidence from major analysts.
- A lower price target may limit upside, but the “buy” rating remains.
- Watch how competition in food delivery and quick‑commerce evolves.
Remember, this is just an overview, not a prediction. Do your own research or consult a certified advisor before making any investment decisions.