Delivery Hero has been upgraded to a "Buy" rating by UBS, with a target price of 50 euros.
The decision to upgrade the rating is based on a report that highlights a significant 17 percent year-on-year increase in the transaction value of online food orders in South Korea.
This information was reported by the national statistics agency Kosis.
Analyst Jo Barnet-Lamb has observed that the market has largely overlooked the strong growth in gross merchandise value (GMV) in South Korea in recent months.
The positive trend in online food ordering is considered a favorable development for the industry as a whole.