Swiggy stock: MOFSL shares target price, Zomato comparison
MOFSL in its initiation report on Swiggy Ltd said the online food aggregator’s innovator DNA is crucial to its success, but it needs better execution to catch up to its rivals. The brokerage said quick commerce is a once-in-a-lifetime opportunity to disrupt how Indian consumers shop for not just groceries but a variety of essential and non-essential goods. It believes Swiggy could be a top 3 player in an exponentially growing market.
“Current numbers, however, suggest that despite being an innovator and a category inventor across both food delivery and quick commerce, Swiggy has let its leadership slip away. Tight execution and better leveraging its platform can fix these issues, in our opinion, though, the brokerage said.
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