Zomato shares rally 8% as JPMorgan hikes target price to Rs 340

Shares of Zomato surged 7.6% on the BSE today, hitting an intraday high of Rs 261.50, following JPMorgan's target price increase to Rs 340 from Rs 208, while maintaining an overweight rating. JPMorgan highlighted Zomato’s leadership in retail consumer transformation through Quick Commerce and its expansion across metros after validating the model in NCR.