Overview
- The brokerage raised its 12-month base-case target to Rs 360 from Rs 340 and reiterated a buy rating on Eternal Ltd. (formerly Zomato).
- Goldman forecasts Blinkit’s EBITDA break-even by December 2025, expects roughly 240 bps margin expansion over the next two quarters, and models a doubling of store count in 2–3 years.
- Its NOV outlook for November 2026 is now 80% and 260% higher than 12 and 24 months ago, with high-frequency data pointing to YoY NOV growth acceleration in 2QFY26 for both quick commerce and food delivery.
- Eternal shares extended gains for a fourth session, trading around Rs 331–335 and touching a record high of Rs 334.95.
- Goldman’s base case implies about 10% upside and its bull case suggests 44% potential upside, while Bloomberg data show 29 of 33 analysts rate the stock a buy.