- 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.Â
- Diebel told investors he now sees upside risk to Deliveroo's gross merchandise volume expectations.
Should You Invest in Deliveroo Shares?
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