Swiggy, Eternal See Higher Users Across Food Delivery, Quick Commerce

Despite a seasonal lull across consumer categories, CLSA has raised its target prices for Eternal and Swiggy, citing strong year-to-date user growth and improving long-term penetration potential. The brokerage now sees a 28% upside for Eternal and 21% for Swiggy, driven by revised valuation multiples and encouraging user metrics across food delivery and quick commerce platforms.