New Delhi, June 9 (Ajit Weekly News) Brokerage house Motilal Oswal Financial Services has recommended investors to “buy” shares of Trent, and it pegged a target price of Rs 1,430.
At present, the shares are trading at around Rs 1,080 per share.
Established in 1998 and part of the Tata group, Trent is headquartered in Mumbai but has pan-India operations. Trent is one of the leading players in the branded retail industry in India.
Trent’s aggressive expansion of footprint and strong like-to-like growth of 16 per cent year-on-year translated into a robust 53 per cent revenue growth in 4QFY22, the brokerage said in a report.
“Westside and Zudio’s store-level economics remains healthy as evident from strong like-to-like growth and Westside’s annualised revenue run-rate which was almost double its FY22 level. Emerging categories such as beauty and personal care, innerwear and home also continued to gain traction with customers.”
Trent’s performance remains much ahead of its peers and offers a huge runway for growth over the next 2-3 years.
“We estimate revenue or EBITDA CAGR of 45 per cent/58 per cent over FY22-24E led by strong revenue recovery and aggressive store additions for Zudio and Westside.”
–Ajit Weekly News