UBS hikes price targets on India's Eternal, Swiggy on stronger quick-commerce outlook

Eternal

07/09/2026 05:09

** UBS raises Eternal ETEA.NS, Swiggy SWIG.NS PTs on improving quick-commerce economics; maintains "buy" on both
** ETEA PT raised to 390 rupees from 305 rupees and SWIG to 375 rupees from 355 rupees
** Median PT of 31 brokerages at 374 rupees for ETEA and 350 rupees for SWIG by 28 analysts, avg rating at "buy"  - LSEG-compiled data
** UBS says easing discount intensity and higher minimum order values improve unit economics across sector
** Expects productivity gains and richer mix offsetting rising dark-store capex  
** Raises ETEA's quick-commerce EBITDA estimates on stronger operating leverage, margin outlook
** SWIG's near-term profitability could be pressured by growth investments  - BS 
** ETEA up 0.7% at 324.90 rupees on Monday, SWIG flat at 276.10 rupees
** YTD, ETEA up 17.1%, SWIG down 28.3%

(Reporting by Kashish Tandon in Bengaluru)
((Kashish.tandon@thomsonreuters.com))