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Swiggy shares rise 5% in two days after Morgan Stanley initiates coverage with overweight rating
Morgan Stanley initiated coverage on Swiggy with an 'Overweight' rating and a price target of Rs 405, indicating a 22% upside. The brokerage highlighted strong growth potential in food delivery and quick commerce, valuing Swiggy as an emerging competitor to market leader Zomato with significant long-term earnings prospects.
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