Motilal Oswal has given Buy recommendation for Trent recommended buy rating on the stock with a target price of Rs 1430 in its research with a target price of Rs. 1430 in its research report issued on Apr 18, 2022

Motilal Oswal’s research report on Trent

Our channel checks threw up positive feedback on store economics, store additions, and a revenue recovery in both Westside and Zudio, despite the impact of the COVID-19 pandemic. Both formats have a high fashion quotient. This, along with Zudio’s sharp pricing, has allowed it to taste success across multiple cities, even as other retailers have been impacted by the pandemic. We have revised our FY24E revenue/EBITDA up by 5.8%/6.5% and are now building in 37%/57% revenue/EBITDA CAGR over FY22-24E on the back of a recovery from the COVID-19 pandemic, 33.5% footprint growth, and 9% SSSG on a stable state basis.

Outlook

We upgrade the stock to Buy, with a revised TP of INR1,430 per share.

More Info

At 14:06 hrs Trent was quoting at Rs 1,262.90, up Rs 40.20, or 3.29 percent.

It has touched an intraday high of Rs 1,277.45 and an intraday low of Rs 1,237.80.

It was trading with volumes of 40,903 shares, compared to its thirty day average of 34,891 shares, an increase of 17.23 percent.

In the previous trading session, the share closed down 0.86 percent or Rs 10.55 at Rs 1,222.70.

The share touched its 52-week high Rs 1,347.10 and 52-week low Rs 694.00 on 07 April, 2022 and 19 April, 2021, respectively.

Currently, it is trading 6.25 percent below its 52-week high and 81.97 percent above its 52-week low.

Market capitalisation stands at Rs 44,894.51 crore.

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