Goldman Sachs raises Eternal target, sees $1B EBITDA by FY29
In short
Goldman Sachs raised its target price for Eternal, the company formerly known as Zomato, by 11% to Rs 385. It also kept a Buy rating and said it sees $1 billion in EBITDA by FY29.
The call points to stronger growth at Blinkit and better margins. The exact assumptions and how competition may change are not stated in the available reporting.
What the reporting says
Goldman Sachs raised its target price on Eternal, formerly Zomato, by 11% to Rs 385 and kept a Buy rating. The brokerage said on a publisher-supplied summary that it expects Eternal to reach $1 billion in EBITDA by FY29, helped by Blinkit’s growth, margin expansion, and steadier competition in quick commerce. The exact timing and assumptions behind the forecast are not independently detailed in the available reporting.
Why it matters
Goldman Sachs’ upgrade on Eternal matters to investors in the listed company and to the quick-commerce market because the brokerage linked the higher target price to Blinkit growth and margin expansion. The report says the bank now sees $1 billion in EBITDA by FY29, but the underlying model details are not stated. Competitive intensity in quick commerce is also described as stabilising, though no specific rivals are named.