Zomato shares advance 7% as CLSA adds stock to ‘high conviction overweight’, raises target price to Rs 400

Zomato share price: CLSA has reiterated its bullish stance on Zomato, adding the stock to its "High Conviction Overweight" list and raising the target price to Rs 400 from Rs 370, indicating a 64% upside potential. The brokerage sees the recent stock correction as an attractive buying opportunity and expresses strong confidence in the growth prospects of Zomato's quick commerce segment over the next three years.