UBS has reiterated its buy rating on Avenue Supermarts and raised the target price to ₹5,600 per share, implying a potential upside of about 18.6% from the current market price of ₹4,720.00.
The brokerage said it remains bullish on the company, citing an acceleration in growth, strengthening of its own e-commerce operations, and the strength of its winning business model. UBS added that Avenue Supermarts continues to benefit from a large structural growth opportunity.
UBS further noted that valuation multiples could expand further if DMart is able to sustain revenue growth above 20%, which would provide additional upside to its long-term story.
Disclaimer: The views and investment recommendations expressed are those of UBS. These do not represent the views of this publication and should not be considered as investment advice. Investors are advised to consult their financial advisors before making any investment decisions.
