By Mangalam Maloo Apr 19, 2022 4:23:56 PM IST (Published)
Trent has rallied about 70 percent in the last 12 months and in the last two years it has rallied over 300 percent. Motilal Oswal believes that there is still some room for more because the firm has upgraded the stock to ‘buy’ rating with a target of Rs 1,430.
Trent has rallied about 70 percent in the last 12 months and in the last two years, it has rallied over 300 percent. Motilal Oswal believes that there is still some room for more and thus upgraded the stock to a ‘buy’ rating with a target of Rs 1,430.
The brokerage carried out some channel checks which indicated some positive feedback on store economics, store additions as well as revenue recovery in both their main formats, Westside and Zudio.
Also Read: Retailers hopeful of good growth in FY23
After a big rally, the valuation according to Motilal Oswal, is close to around 42 times FY24 EV/EBITDA and in terms of price to earnings, it is close to around 109 times.
Noel Tata, Chairman of Trent, recently said that Tata’s super app may increase the reach of Westside by 10 times.
Watch the accompanying video of CNBC-TV18’s Mangalam Maloo for more details.