Key Points
Citi set a target price of Rs 9,250 for the stock, signaling a 21% upside from the previous closing price, and added it to its Pan-Asia high-conviction focus list...
Shares of Trent Ltd, a multibagger from the Tata Group, hit a new record high in early trading on Thursday after global brokerage Citi initiated coverage with a 'buy' recommendation...
Citi's report highlighted Trent's ability to leverage its supply chain and insights from its flagship brands, Westside and Zudio, while also successfully turning around its Star Bazaar grocery business...
As a diversified player in fashion, lifestyle, grocery, and personal care, Trent is projected to lead the industry with revenue, EBITDA, and PAT CAGRs of 41%, 44%, and 56%, respectively, from FY24 to FY27...
For the June quarter, Trent posted a 225% year-on-year increase in consolidated net profit, which climbed to Rs 391 crore from Rs 167 crore in the same period last year..
