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Deliveroo Shares Get Upgraded at JPMorgan

Updated: 24 Nov 2021
  • Deliveroo (LON: ROO) shares are on the rise Wednesday after investment bank JPMorgan upgraded the company's shares to Overweight from Neutral.
  • Analyst Marcus Diebel also increases the price target for Deliveroo to 392p, up from 333p.
  • The analyst said there have been “strong partner sign-ups” in the UK food delivery industry for all three players, JustEat, Deliveroo and Uber Eats, however, Deliveroo is seeing the most substantial momentum. 
  • Diebel told investors he now sees upside risk to Deliveroo's gross merchandise volume expectations.

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