UBS initiates coverage on Swiggy with a ‘Buy’ rating
Mumbai: Brokerage UBS initiated coverage on food delivery firm Swiggy with a ‘Buy’ rating and a 12-month target price of ₹515. This implies an 11.5% upside from Tuesday’s close of ₹461. “We believe the stock’s price is at 35-40% discount to Zomato and see room for this valuation discount to narrow as the company demonstrates…