Jefferies downgrades Zomato to ‘hold’, cuts price target by 18% as quick commerce competition heats up
Jefferies Downgrades Zomato to ‘Hold’: Rising Competition and Stock Surge in 2024 a Concern Global brokerage firm Jefferies has shifted its stance on Zomato, downgrading the stock to a “hold” rating. The decision comes after Zomato’s shares more than doubled in 2024, leading analysts to believe 2025 might be a year of consolidation for the…