Stories
Goldman Sachs Predicts 16% Surge in Eternal Shares: Four Key Growth Drivers Identified
C
CNBC TV18•29-09-2026, 08:33
Goldman Sachs Predicts 16% Surge in Eternal Shares: Four Key Growth Drivers Identified
- •Goldman Sachs raised its price target for Eternal Ltd. (parent company of Zomato and Blinkit) to ’385 per share, implying a 16% upside from its Monday closing price.
- •The brokerage maintains a 'Buy' recommendation, citing Eternal as a top pick in India's internet sector due to four key factors.
- •Goldman Sachs sees increased visibility into Eternal's $1 billion FY29 EBITDA guidance and early signs of market-share gains in food delivery.
- •Sustained strength in Blinkit's growth is a key factor, with potential significant upside if it meets its 60% net order value (NOV) compound annual growth rate (CAGR) guidance.
- •Further optionality from Eternal's newer businesses, including Going-Out, also contributes to the positive outlook.
Key Questions Answered
Goldman Sachs has maintained a 'Buy' recommendation on Eternal and raised its price target to ₹385 per share, which implies a potential upside of around 16% from its previous closing price.
The four key factors include greater visibility into Eternal's $1 billion FY29 EBITDA guidance, early signs of market-share gains in food delivery along with margin improvements, sustained strength and growth in Blinkit, and further business optionality from newer ventures like Going-Out.
Eternal was included in Bernstein’s India model portfolio, with the firm noting that the company continues to demonstrate competitive strengths in a sector where raising capital is becoming increasingly difficult.
