Jefferies remains optimistic on Aditya Birla Fashion and Retail (ABFRL), maintaining a ‘Buy’ rating with a target price of ₹100. The brokerage highlighted management’s confidence in strong growth ahead, alongside improving profitability in TCNS and Pantaloons.
With new ventures scaling up and the balance sheet well-capitalised, Jefferies expects the business to remain expansion-ready. The upcoming listing of Lifestyle Brands is another trigger the brokerage views positively, describing it as a healthy free cash flow play.
Disclaimer: The views expressed above are those of Jefferies. This article does not constitute a recommendation by this publication.