Urban Company Share Price: Morgan Stanley maintains ‘underweight’ rating, cites competition a key risk - Check target

Urban Company Share Price: Brokerage firm Morgan Stanley has maintained its ‘underweight’ rating with a target price for Urban Company, a tech driven firm connecting consumers with home service providers. At 9:48 AM today, shares of Urban Company were trading at Rs 109.30, down 2.84 per cent from its previous closing.

The brokerage’s rating on the stock comes a day after Urban Company claimed its quick-service housekeeping vertical InstaHelp has crossed 50,000 daily bookings in less than a year since launch.

Morgan Stanley’s Target Price On Urban Company

Morgan Stanley has set a target price at Rs 120 for Abhiraj Singh Bhal-led Urban company.

Key takeaways from the brokerage firm coverage on the stock:

-- Competition remains a key risk, with overall adjusted EBITDA losses persisting.

-- Management targets consolidated adjusted EBITDA breakeven by 3QFY28.

-- Improving unit economics and scale could gradually ease competition concerns.

(Disclaimer: The above article is meant for informational purposes only, and should not be considered as any investment advice. ET NOW DIGITAL suggests its readers/audience to consult their financial advisors before making any money-related decisions.)