Trent Ltd. shares jumped 2.81% to ₹7,828.95 on the NSE as of 9:16 AM, following Citi’s initiation of a ‘Buy’ call on the stock. Citi set a target price of ₹9,250, projecting a potential upside of around 18% from current levels.
In its report, Citi emphasized Trent’s transformation from a single-format business (Westside) into a multi-format, multi-category player, with brands like Zudio, Star, Samoh, Utsa, and Misbu contributing to its growth. Citi anticipates strong revenue and profitability for Trent, forecasting revenue/EBITDA/PAT CAGRs of 41%, 44%, and 56% respectively for FY24-27.
Citi also pointed out that Trent’s strategic use of its supply chain expertise and focus on expanding into modern trade and e-commerce channels will further boost growth. Additionally, the turnaround of Star and scaling up of newer projects like Misbu and Samoh are seen as key factors driving Trent’s future expansion.
