Deliveroo (LON: ROO) was initiated with a Buy rating and 142p per share price target at Goldman Sachs on Thursday in a note on European Online Food Services names.

ROO closed the session up over 2% after analyst Lisa Yang told investors in a note that the company has produced solid execution over the last year in a challenging economic environment.

She noted that the London-listed company has gained market share thanks to its hyperlocal strategy and excellent customer proposition while it is also improving profitability ahead of expectations.

Elsewhere in the note, Yang initiated Delivery Hero with a Buy rating and EUR 52.3 price target, stating it represents the best structural growth outlook.

Just Eat Takeaway was started with a Neutral rating and EUR 15.7 price target, with HelloFresh also at Neutral with a EUR 22.9 target price.

By Sam Boughedda