International brokerage firm Morgan Stanley set the Swiggy stock target at ₹405 a share, triggering investor interest in the sector. They attributed the positive target price to the company’s aggressive investment strategy and a marked improvement in the execution of the food delivery business.
Moreover, Morgan Stanley revised the total addressable market (TAM) estimate for quick commerce in India to $57 billion by 2030, from its earlier $42 billion outlook.
It also lifted the gross order value (GOV) outlook for the sector by 9 to 11 per cent for FY2026 to FY2028. Based on this, the brokerage firm estimates that Swiggy will post a 15.58 per cent CAGR in GOV for FY 2025 to FY 2028.
Swiggy rival Zomato’s parent Eternal also saw its shares spike more than 4 per cent as the BSE Sensex constituent hit a weekly high of ₹247.50 apiece on Wednesday.
