ICICI Direct has given Buy recommendation for Shoppers Stop recommended buy rating on the stock with a target price of Rs 480 in its research rep with a target price of Rs. 480 in its research report issued on Jan 21, 2022

ICICI Direct’s research report on Shoppers Stop

Shoppers Stop (SSL) is one of India’s leading departmental stores and has undergone various structural changes with focus on enhancing its share of private label brands and beauty portfolio, accelerating growth through digital channels and providing better shopping experience through ‘personal shoppers’. Operates 83 departmental stores and 163 beauty format stores spread across 4.2 million sq ft and present in 47 cities.

Outlook

With the new management team in place, we expect SSL to revive its revenue trajectory and margin profile. Reasonable valuations prompt us to remain positive on the stock and maintain BUY. We value SSL at Rs 480 i.e. 8.5x FY24E EV/EBITDA.

More Info on Trent

At 17:30 Shoppers Stop was quoting at Rs 364.15, down Rs 14.05, or 3.71 percent.

It has touched an intraday high of Rs 388.90 and an intraday low of Rs 359.15.

It was trading with volumes of 25,842 shares, compared to its thirty day average of 27,609 shares, a decrease of -6.40 percent.

In the previous trading session, the share closed up 2.44 percent or Rs 9.00 at Rs 378.20.

The share touched its 52-week high Rs 425.00 and 52-week low Rs 180.00 on 21 January, 2022 and 19 April, 2021, respectively.

Currently, it is trading 14.13 percent below its 52-week high and 102.75 percent above its 52-week low.

Market capitalisation stands at Rs 3,987.45 crore.

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