Bernstein Backs Eternal, Swiggy Amid AI Concerns, Forecasts Up to 60% Upside

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Bernstein Backs Swiggy, Eternal Amid AI Concerns, Sees Up to 60% Upside

Bernstein Backs Swiggy, Eternal Amid AI Concerns, Sees Up to 60% Upside

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CNBC TV18•25-02-2026, 08:33

Bernstein Backs Swiggy, Eternal Amid AI Concerns, Sees Up to 60% Upside

•Bernstein reiterates 'Outperform' rating for Swiggy and Eternal despite recent stock declines.
•Price targets: Eternal at ₹370 (60% upside), Swiggy at ₹500.
•Brokerage believes AI apps will be incremental demand channels, not disintermediation risks for established players.
•Indian platforms are integrating AI across consumer-facing interfaces and backend operations.
•Bernstein remains constructive on Indian e-commerce, citing strong fundamentals and insulation from AI disruption.

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