JPMorgan is bullish on DoorDash 's future after it completed its acquisition of Deliveroo this month. The bank upgraded shares of the food delivery company to an overweight rating, and lifted its price target to $325. Prior to a period of restriction, JPMorgan analyst Doug Anmuth had a neutral rating and $175 price target on the stock. Shares of DoorDash have surged 63% this year, but Anmuth's revised price target implies an additional 19% upside ahead for the stock. DASH YTD mountain DASH YTD chart As a catalyst, Anmuth pointed to DoorDash's recent acquisition of Deliveroo, which had operated in nine markets new to DoorDash. Following the acquisition, DoorDash now operates in 45 countries with a combined population of over a billion. It serves more than 700,000 local businesses and 50 million monthly active users, with Deliveroo having contributed around seven million. "Recent M & A expands TAM with Deliveroo expanding DoorDash's footprint in Western Europe and the Middle East. With scaled incumbents in these markets, we think DoorDash will need to reinvest profits aggressively to scale the business and gain market share," the analyst wrote. "We expect these investments to go towards customer acquisition as well as to improve the subscription offering to drive higher frequency. Over time, we expect to see DoorDash able to bring their operational and logistics playbook to drive more efficiencies in the Deliveroo business." The recent addition of Kroger's 2,700 stores to DoorDash's platform should also continue to expand its offerings. Anmuth also sees a "significant opportunity" in advertising. If ad monetization reaches 2% by 2027 for both DoorDash and Deliveroo, that would equal around $3 billion in revenue, he wrote. ( Learn the best 2026 strategies from inside the NYSE with Josh Brown and others at CNBC PRO Live. Tickets and info here . )
