Trent closed at 7238.90 today 5.31% up in a day. A foreign brokerage Bernstein initiated coverage on Trent. Bernstein suggested a target price of Rs 8,100 on the Tata group stock. As per Nuvama, Trent could see inflows to the tune of $647 million due to the index inclusion. Trent continued to report strong performance despite weak consumption pattern reported by other retailers and breached target prices of a couple of brokerages. As rightly mentioned by @EverythingGenius, the continued momentum in Star and improving store metrics offer further upside potential, MOFSL on August 12 released a revised target price of Rs 7,040. This target price got broken now. Antique Stock Broking set earlier this year.
a revised target price on Trent to Rs 7,075 but this target price also got broken today. Profitability continued to improve due to operating leverage and better cost control. In Q1, store addition was muted with net 14 stores of Zudio being added and net four Westside stores being closed; election and the extreme heat wave could be the reasons. Trent is likely to add 200/ 20 stores of Zudio/ Westside during FY25.
Disclosure: This analysis should not be considered as buy or sell recommendation. I am invested in Trent for last 20 years at very low levels. My views are biased and my knowledge is limited. I am not an Expert and nor a SEBI registered advisor.
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