Deliveroo PLC (LSE:ROO) had its stock rating and price target left unchanged by Barclays after a ‘solid’ first quarter.
Barclays maintained its 'equal weight' stance and 170p target after the food delivery service reported first-quarter results “broadly in line with expectations.”
Growth now more normal market conditions have returned after the pandemic will be something to watch for as will any tightening of purse strings as inflation takes hold over the next quarter
Mergers and acquisitions are a possibility according to the broker, but they won't happen in the short term.
Barclays adds that it expects underlying earnings (EBITDA) margins to improve in the second half and beyond.
Shares eased 3% to 106.2p.