Goldman Sachs raises India's Eternal target price on Blinkit expansion outlook

Eternal

18/09/2025 08:37

** Goldman Sachs hikes Blinkit parent Eternal ETEA.NS PT to 360 rupees from 340 rupees; keeps "buy" rating

** Expects Blinkit store count to double over next 2-3 years, says meaningful market share expansion not reflected in current price

** Blinkit's FY27 Net Order Value (NOV) projections are  higher than earlier estimates with EBITDA break-even anticipated by Dec 2025, signaling strong growth

** ETEA's quick commerce and food delivery segments are expected to accelerate Y/Y in 2Q FY26; food delivery NOV growth could reach 20% Y/Y by March 2026

** Follows J.P.Morgan PT hike to street-high 390 rupees last week

** ETEA rated "buy" on avg, median PT 329 rupees- data compiled by LSEG

** Stock up nearly 20% YTD

 (Reporting by Urvi Dugar)

 ((UrviManoj.Dugar@thomsonreuters.com))