International brokerage firm HSBC has reiterated its “Buy” call on Eternal, raising its target price to Rs 390 per share from Rs 340, citing clear scale and profitability leadership in both food delivery and quick commerce, while maintaining a “Hold” and Rs 430 target on Swiggy due to continued execution risk and slower margin progress in its quick commerce business. The new target price for Eternal forecasts an upside potential of 21% from the last close on the NSE.