The risk-reward for the stock is attractive as it is valued at an estimated Enterprise Value (EV) to Revenue of 6.2 times, as against 9 times for Zomato, said the brokerage.

UBS believes Swiggy is well positioned to benefit from the rapid growth in India's food delivery and quick commerce markets with an estimated GMV and revenue CAGR of 35% and 29% over FY24-27e.

Brokerage firm UBS initiated coverage on Swiggy with a 'Buy' rating and a price target of INR 515 for the upcoming 12 months

Shares of food delivery giant, Swiggy Limited, soared over 6 per cent to Rs 456 in morning trade on November 27, 2024. At the time of this report, the Swiggy stock had risen 6.2 per cent to Rs 458, bringing the company’s market capitalization to Rs 1 lakh crore or 10.

Swiggy's stock rose 8.1% to Rs 499 after UBS initiated coverage with a "Buy" rating and Rs 515 target. Analysts highlight growth potential amid operational challenges and competition.

Swiggy rallied 7 per cent on Tuesday after UBS initiated coverage on the stock with a ‘buy’ rating, citing a “significant” valuation discount to rival Zomato. The brokerage has set a 12-month price target of Rs 515. Shares of Swiggy ended at Rs 462, valuing the company at Rs 1.03 trillion.

Global brokerage firm UBS has initiated coverage on Swiggy Ltd., the food delivery aggregator and Zomato Ltd.'s competitor, with a 'Buy' rating and a price target of ₹515. The price target ascribed by UBS,

Shares of newly-listed Swiggy climbed as much as 4% on Monday to Rs 448.65 on BSE after brokerage UBS initiated coverage on the leading food delivery player with a ‘buy’ rating and a target price of Rs 515,

Will Swiggy Deliver Better Returns? The brokerage said that Swiggy is well-positioned for growth, currently trading at a 35% discount to Zomato