Goldman Sachs has reaffirmed its ‘Buy’ rating on Trent and maintained its target price at ₹8,120, pointing to a sharp upside surprise in Zudio store additions during Q4. This unexpected acceleration in store rollout is expected to revive investor sentiment and reaffirm Zudio’s long-term growth potential.
Zudio, Trent’s value retail arm, continues to benefit from a massive addressable market in India’s growing consumption economy. Goldman Sachs believes Zudio’s penetration is still at a nascent stage both in terms of number of stores and share in the value retail segment, allowing for years of compounding growth ahead.
The brokerage highlights that among its India consumer stock coverage, Trent stands out for having the highest earnings growth potential, backed by a scalable model and strong brand recall.
