UBS has upgraded Delivery Hero to a "buy" rating with a target price of 50 euros, citing a remarkable 17% year-on-year increase in online food order transaction value in South Korea for September. Analyst Jo Barnet-Lamb noted that while growth in the preceding months was strong, the current figures are particularly impressive, indicating a positive trend in gross merchandise value (GMV) for the industry, which has been overlooked by the market recently.
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